Despite the fact that Greek fruit production has become increasingly modern and outward-looking, it lacks one necessary element to ensure and facilitate the growth of its export turnover. "This element is cargo insurance," emphasizes Mr. Alexandros Chatzopoulos, owner of the entrepreneurial and industrial insurance company Chatzopoulos Insurance. "The expansion of the Greek export to even more destinations and the increase of the exported volumes make cargo insurance more necessary than ever. However, few Greek exporters understand this necessity and make such contracts. For instance, our company works with 30 Greek exporters and less than half of them have a cargo insurance contract," says the Greek insurance entrepreneur. "In this way," highlights Mr. Chatzopoulos, "the exported Greek products not only fail to obtain the higher added value that could be awarded by cargo insurance, but also endanger their actual value, being exposed to very certain dangers."
Greek star fruit shipments unprotected against common risks
Mr. Chatzopoulos explains some typical such cases: "Let's take the example of kiwifruit, which is a highly exported and valued Greek product all over the globe. The USA, Canada and in general the American continent represent a crucial market that expresses high demand for this fruit. However, less than half of the Greek kiwi shipments sent there at the expense of the exporters are covered by cargo insurance against certain risks that arise from such long routes. For instance, the most frequent problem is the strong temperature fluctuations in the Atlantic Ocean, that can cause defects in the refrigeration systems of the containers resulting in the fruits to arrive in their destination soft or with generally unacceptable quality. Similar climate dangers, exacerbated by the climate crisis, occur more often during the eastward overseas journeys of the Greek kiwifruit as well. Moreover, on such journeys there is always the danger of storms that can cause harmful shifting of the product inside the containers."
Greek kiwi season has officially begun on October 15th. Although US importers express considerable demand for Greek kiwis, Greek exporters stand somewhat reluctant, fearing that massive dockworker strikes on the East Coast could break out again. "There are special clauses in insurance contracts that protect the exporters in such cases," stresses Mr. Chatzopoulos, whose company's multi-year experience stretches as well to insurance against the frequent phenomenon of stowaways of immigrants to fresh produce trucks heading to the UK and EU countries.
Greek exporters have just started to realize the enormous prospects of cargo insurance
"The Greek export community needs to change its mindset regarding the value of cargo insurance. Fortunately, the new generation entering the market adopts a modern attitude towards the real insurance needs. Greece spends only 3-4% of its GDP to the insurance market, while a very similar country, Portugal, spends three times this percent. Therefore, the Greek fresh produce market presents great insurance prospects and this will primarily benefit the fresh produce entrepreneurs," concludes Mr. Chatzopoulos.
For more information:
Alexandros Chatzopoulos
Chatzopoulos Insurance
Tel: +30 2510 391 767
Mob: +30 6972 883 152
[email protected]
www.chatzopoulos-insurance.gr/