FREIGHT FORWARDERS’ & CARRIERS’ LIABILITY INSURANCE

This insurance policy covers:

• Cargo and Related Liabilities
• Liability for Fines & Duties
• Third Party Legal Liability
• Claims Expenses

Very important news
The subcontractor liability insurance limit requirement has been reduced. Instead of 250,000 US dollars, it was set at 50,000 US dollars, and in the territory of Georgia, this obligation was completely removed.

CARGO AND RELATED LIABILITIES

Insurance covers:

• physical loss of or physical damage to cargo if legal liability of expeditor/forwarder arises based on relevant law, regulation, convention, etc.
• physical loss of or physical damage to a vessel or equipment owned or operated by sub-contractor or customer
• consequential loss directly arising from above two topics
• errors and/or omissions, by company’s representative or sub-contractor resulting in:

     - incorrect or wrongful delivery of cargo (delivering to a wrong address or to a non-authorized person); or

     - delay in the handling of your customer’s cargo; etc.

LIABILITY FOR FINES & DUTIES

Insurance policy indemnifies:

• any claim that may be deemed or adjudged to be legally liable arising from an unintentional breach of any regulation, legal or statutory provision resulting in fines, customs duty, sales, excise tax, value added tax or similar fiscal charges or other penalty imposed by an authority on you or any other person acting within their authority on company’s behalf
• any claim provided by such breach directly related to the import or export of cargo or equipment of your customers; or immigration; or the safety of working conditions

THIRD PARTY LEGAL LIABILITY

This policy indemnifies:

• claims occurred while performing company’s services related to the legal liability to third party’s bodily injury or physical loss of or physical damage to third party property
• third party consequential loss directly arising from above claim that company is legally liable for
• above claims in respect of company’s third party legal liability which would have attached to it in the absence of any contractual indemnity; and, such liability was caused by or contributed to by its fault or negligence
• claims in respect of company’s third party legal liability that it may incur whilst cargo reloading, unloading, packaging while directly performing its services

CLAIMS EXPENSES

This policy indemnifies:

• claims expenses incurred by company with prior written approval in investigating, minimizing or defending a claim covered under the policy and made against it