Freight Forwarder Liability Insurance
What is Freight Forwarder
Liability Insurance?
A freight forwarder is responsible for transporting goods between one destination and another -through the sea, air, train or road.
Freight Forwarders Liability (FFL) Insurance provides coverage against forwarders' liability from claims resulting from unpredictable damages or losses.
Therefore, it helps businesses reduce financial losses and the liability risks involved if something goes wrong during the journey.
What Does Freight Forwarder Liability Insurance Cover?
Freight Forwarder Insurance covers lawsuits that might arisise due to:
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Damage or loss to the cargo during transit
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Recovery and maintenance costs
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Custom fines and duties, including delays due to errors
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Third-party liabilities (like legal expenses, mitigation costs, debris removal, etc.)
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Uncollected or abandoned cargo
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Financial claims from shippers and receivers
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Legal protection services to tackle unjustified third-party claims,
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Coverage for personal injury or employee injury during operations
Film Insurance Tips
Fidelity Guarantee in Hong Kong can be found as one of the sections of the Office/Shop package and automatically comes free of charge. Depending of your insurance company, from HKD 50,000 to HKD 100,000 per loss and in aggregate.
Freight Forwarder Liability Insurance Tips
Many people get confused about the difference between cargo and freight forwarders' insurance. Freight forwarders' insurance protects the liability of the company responsible for the transit, while cargo insurance is designed to protect the value of the goods.