Shipping and logistics businesses could be facing a Christmas crisis as airlines experience a significant shortage of cargo capacity. As the festive trading period gets underway and business owners attempt to increase the volume of stock on their shelves, transportation space is at a premium – the likes of which has not been seen for years. With extensive experience in the shipping industry, Safeguard asks, what is causing the crisis? A lack of capacity The significant reduction in available freight capacity is being fuelled by the declining value of sterling, which dropped amid economic uncertainty after the Brexit referendum. As a result, Continental Europe is increasingly using the UK as a transhipment point. In addition, the fast-moving eCommerce market is continually demanding faster shipping times and orders are taking up more capacity on aircrafts than ever. Finally, there is the general year-on-year upturn in cargo levels, which can be as much as a 30% increase on the same period last year - and all at a traditionally busy time of year. Knock-on effects Inevitably, the lack of space is increasing rate levels for both new and existing bookings. You may have experienced airlines applying 'Dynamic Pricing', which gives priority to the highest rates paid. Urgent deadlines are therefore forcing shippers to enter competitive auctions and outspend their budgets in an attempt to reserve a space. Suppliers are experiencing difficulty in booking onto major routes. Many routes are fully booked up to 10 days in advance, with premium or must-ride upgrades the only option. Retailers, warehousing, shipping and cargo transit businesses could all be affected as the issue knocks the supply chain. What can businesses do? Shipment planning is critically important. At Safeguard, we recommend advance scheduling and avoiding last-minute bookings where possible, as these will attract the biggest premiums. In some cases, emergency logistics services are stepping in to pick up the shortfall, but be warned they will charge significant premiums. In an industry where things can change up to the last minute, Safeguard suggests that air freight business models will need significant changes to keep up with future demand. Specialist transit insurance from Safeguard can help to protect your stock, cash-flow and business. Experts in shipping, cargo and marine risks, talk to our insurance experts on 08456 888 284.  

Biomedical research and pharmaceutical development have always been intrinsically linked with technology - from research techniques and equipment to the way we monitor patients, diagnose illnesses and treat conditions. The rapid advent of technologies that were unimaginable just a few short years ago has made this relationship stronger than ever. In July 2017, the House of Lords Science and Technology Committee launched an enquiry into “Life Sciences and the Industrial Strategy”, investigating whether the Government is doing enough to incorporate the sector’s latest innovations in the NHS. Could one of these revolutions be Artificial Intelligence? Artificial Intelligence Artificial Intelligence (AI) is defined by the Oxford Dictionary as “computer systems able to perform tasks normally requiring human intelligence” such as decision making. From Netflix predicting what film you might like to watch next to Amazon suggesting products based on previous searches, we already use this tech in a variety of ways. Pioneering companies are currently developing algorithms which learn as they go, capable of analysing huge amounts of data for very specific patterns. How is this being used? AI can already be used to aid screenings for illnesses including cancer, analysing health data such as images, medical history and lifestyle information to detect symptoms early. It can also look for patterns which would suggest anomalies or rare finds. Of course, accuracy is key in diagnostic AI. Abdul Hamid Halabi, global business development lead at visual computing firm NVIDIA, explains that when researchers at Mount Sinai fed 70,000 pieces of data into a neural network, the resulting model was able to “forecast with about 80 percent accuracy whether an individual will develop any of about 80 diseases within a year. In the case of predicting liver cancer, the system is up to 90 percent accurate”. Errors in AI programs decrease over time as they learn from mistakes, whereas human error rates mostly stay the same. As well as diagnostic screenings, it has been suggested pharmaceutical companies could use AI to analyse Big Data, such as electronic health records. Machine learning programs could compare success rates of treatments, develop better prognostic tests, detect biomarkers and price new products according to effectiveness – all faster and with more accuracy than by humans. However, this would also require widespread patient consent to use their health data, alongside greater collaboration between clinicians, healthcare organisations and researchers. Whatever stage of the research and development process you are involved in, ever-changing technology requires flexible Life Sciences insurance. Call Safeguard on 08456 888 284 or email sales@safeguardinsurance.co.uk to talk to our team.

Accidents happen, but the manufacturing sector is exposed to a significantly higher risk of personal injury at work than other industries. Each year, around 3% of manufacturing industry workers suffers an illness they believe to be work related.

First aid is a vital skill in all workplaces, and its place in your manufacturing business’s office, factory or warehouse should not be underestimated.

Make the most of your staff Keeping your staff well-trained provides a vital first-line of defence against accidents and injuries. Employers are required to assess the hazards and risks of your workplace, and all staff should receive a full Health & Safety training to prevent accidents.

While not all staff members need to have undergone a First Aid course, you must ensure there are enough trained first aiders to help injured or ill employees.

Provide appropriate equipment There is evidence that the early use of an Automated External Defibrillator (AED) can lead to survival rates of 50-75% when used within three to five minutes, a far more beneficial outcome for the casualty than if that intervention is delayed.

When used alongside CPR, an AED provides an unresponsive person who is not breathing with the best possible chance of survival. With 30,000 people sustaining a cardiac arrest away from hospital each year, that’s one bit of kit which could well prove life-saving.

Follow the guidelines To prevent prosecution in the event of an incident, ensure your premises adhere to First Aid guidelines set out by the Health and Safety Executive (HSE). The Health and Safety (First-Aid) Regulations 1981 require employers to provide adequate and appropriate equipment, facilities and personnel to ensure their employees receive immediate attention if they are injured or taken ill at work. What is “adequate and appropriate” will depend on the nature of your work environment. If you are self-employed, you are required to ensure you have the equipment to provide first aid to yourself while at work.

 Stay protected In the event of a workplace injury, the correct liability insurance offers vital assistance to both your business and the affected staff member. Employers’ liability insurance is a legal requirement, but that doesn’t mean it has to be basic – specific policies dedicated to the manufacturing industry can provide extra reassurance that accidents would be covered.

We can arrange manufacturing insurance to suit your business.

 

Fastest finger first.... Using the numerals 1, 9, 9 and 6, mathematical symbols +, -, x, :, root and brackets create the following numbers: 29, 32, 35, 38, 70, 73, 76, 77, 100 and 1000. All the numerals must be used in the given order (each just once) and without turning upside down.   First 3 correct answers win a prize!! 1^st Prize – Free Home Insurance for 12 months (up to the value of £400)* 2^nd Prize – Bottle of wine 3^rd Prize – Toblerone or Chocolates of your choice     To enter, please use the options below:

• tweet us @SafeguardMarine
• post on our Facebook page
• or email your answers to sales@safeguardinsurance.co.uk

*would need to have a copy of existing schedule