Freight Forwarders Liability
The Insured's cover for freight and logistics liabilities
Overview
As today’s freight forwarding and logistics companies continue to expand their reach and responsibilities around the world, risk management, and liability insurance are among some of the keys to win the international environment.
AIG Marine and Logistics Practice can help provide this multi-faceted industry with better access to custom solutions to address the unique liability risks they face.
Product highlights
Proactive loss prevention
Marine Loss ControlEngineering (MLCE) endeavors to avoid losses by analyzing potential exposures and presenting tailored recommendations to minimize them. It strives to ensure open lines of communication, to act as a “knowledge center,” and exchange essential information that will assist the client in carrying out loss prevention initiatives during the policy period.
Errors and omissions and customs fines liabilities
Coverage for the logistic company for claims from shippers/consignees/customs for monetary claims caused by errors and omissions.
Adjustable, tailor-made solutions to suit the client’s unique needs
From goods in transit to the vital support services for the marine industry, we offer tailored solutions to cater to each customer’s unique needs.
Third party liability
Coverage can be extended to include legal liability to third parties arising from physical loss of, or damage to, the property of a third party and death of, or bodily injury to a third party.
Cargo liability
Liability coverage for loss or damage to cargo.
Global claims network
Resolve claims in any country, currency, or language through our worldwide network of claims experts. Seamless transfer of claims servicing tailor fitted to your needs and necessities. Claims payments to location of your choice.
Who is it for?
Freight Fowarder's Liability caters to:
- Freight forwarder - company that organizes shipments for individuals or corporations to get goods from the manufacturer or producer to a market, customer or final point of distribution
- Non-Vessel Operating Common Carrier (NVOCC) - a shipment consolidator who does not own any vessel, but functions as a carrier by issuing its own bills of lading or air waybills and assuming responsibility for the shipments
- Warehousemen/(de) consolidator- who works in a warehouse usually delivering goods for sale or storage
- Haulage company
- Logistic operator
* Appetite is for incidental to transit and not a stand-alone warehousing operation
- Customs brokers - clearing of goods through custom barriers for importers and exporters. This involves the preparation of documents and/or electronic submissions, the calculation and payment of taxes, duties, and excises, and facilitating communication between government authorities and importers and exporters
- Trucking company - overland transit distribution of goods
- Multimodal transport operator - is the transportation of goods under a single contract but performed with at least two different means of transport; the carrier is liable for the entire carriage, even though it is performed by several different modes of transport (by rail, sea, and road for example). The carrier does not have to possess all the means of transport and in practice usually does not. The carriage is often performed by sub-carriers
What is covered?
It has coverage for cargo liability, errors and omissions, third party liability as well as legal and loss mitigation costs. It also has package cover against liability for cargo, errors and omissions, third party liability arising from freight forwarding operations.
How to make a claim?
When you buy insurance from AIG, you can have confidence that we stand ready to help you recover quickly when the unexpected happens. The claims operation that underpins every AIG policy is one of our greatest strengths, with a strong local claims team backed by our global network of expertise to support you when you face a loss.
For claims associated with Freight Forwader's Liability, please reach out to your insurance broker to assist you. You may also contact us at:
Phone: +63 2 878 5460
Email: AIGPHLWeServeCRG@aig.com