Freight Forwarder Liability
Freight forwarding is an integral part of the global supply chain industry, ensuring that goods are transported efficiently and securely from one location to another. However, unforeseen circumstances can sometimes lead to damage or loss of cargo during transit, resulting in significant financial implications for both the sender and the receiver.
Freight forwarder liability insurance is a crucial component in the realm of logistics and supply chain management. It protects freight forwarders against financial losses resulting from liabilities that may arise while transporting goods. In essence, this type of insurance is designed to safeguard freight forwarders from various risks, such as damaged goods, theft, accidents, delays, and other unforeseen circumstances that could occur during the transit of goods.
One key aspect that significantly impacts the Freight Forwarder Liability insurance premium is the underwriting information provided by the freight forwarder. Underwriting is the process by which insurance companies evaluate the risks associated with insuring a particular entity and determine the appropriate premium to charge. The accuracy and completeness of the underwriting information directly influence the premium amount.
Underwriting information required for
Freight Forwarder Liability Insurance:
- Details of the company's operations, including the types of goods being transported and the geographical areas covered.
- Annual revenue and projected growth of the business.
- Experience and qualifications of the management team and staff.
- History of past claims or incidents related to freight forwarding services.
- Safety and security measures in place to protect the goods during transit.
AMG's expertise and experience in the insurance industry enable us to navigate the complexities of insurance policies and negotiate competitive rates on behalf of you. As a trusted intermediary, AMG can leverage our relationships with insurance carriers to secure comprehensive coverage that meets the unique needs of freight forwarders.
AMG Corporate has a wide scope of expertise with deep technical skill and experience including:
- Aviation
- Business Interruption/ Loss of Profits
- Carrier’s Liability
- Comprehensive General Liability
- Construction All Risk
- Contractor Plant’ Equipment
- Employer’s Liability
- Excess Automobile Liability
- Fidelity Guarantee
- Freight Forwarder Liability
- Goods in Transit
- Marine Cargo
- Marine Hull & Machinery
- Port & Terminal Operator Liability
- Project Delay in Start-up (DSU)
- Property Insurance
- Ship Builders’ All Risks
- Ship Repairers’ Liability
- Warehousemen Liability
Contact AMG
We provide risk management, risk consulting, insurance broking, insurance program management and claims advocacy services.