Freight Forwarders Liability
Insurance cover for freight and logistics liabilities
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 key considerations for their business operations.
AIG Marine can help provide this multi-faceted industry with better access to customised solutions to address the unique liability risks they face.
Who is it for?
Freight Forwarders Liability caters to:
- Freight Forwarders – companies that organise 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) – shipment consolidators who do not own any vessels, but function as carriers by issuing their own bills of lading or air waybills and assuming responsibility for the shipments.
- Warehousemen / (De) Consolidators – who work in warehouses usually delivering goods for sale or storage.
- Haulage Companies
- Logistic Operators – 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 Companies – 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?
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 Forwarders Liability, please approach your insurance broker to assist you. You may also email us at: Singapore.MarineCLM@aig.com