Freight Forwarders act as an intermediary in providing a one-stop shop by providing various logistic services and acting as agents for the ship, air carrier, transportation broker or warehouseman. They operate under set trading conditions and generally are members of trade associations.
Coverage from Burns & Wilcox is designed to protect the Freight Forwarders against their legal liability for physical loss of/or damage to customer’s cargo and for consequential resulting losses. It also covers liability for financial loss incurred by a customer resulting from failure by the insured, partly or totally, to perform contractual obligations.
Coverage Details and Features
- Limits as high as $10M can be quoted
- Minimum deductible $2,500 all claims
- Minimum premium of $3,000 per policy
- Broad policy wording with extensions can be provided on case basis
- Broker Contingent Liability is included
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