Freight Forwarders Legal Liability Insurance or Errors and Omissions for Freight Forwarders with LMBF
Freight forwarders’ main operations revolve around the shipping, management, and transportation of goods and products through carriers via sea, air, rail, or road. Freight forwarders liability insurance is designed as a solution for these carriers against accidental damages or losses to the cargo being transported. If a third party should file a liability claim against your freight forwarding company, your coverage will offer financial protection against the resulting expenses, such as legal fees, judgment awards, settlement fees, and more. LMBF can get you started today with a free freight forwarder insurance quote. All you need to do is tell us a bit about what you do and apply online!
What Freight Forwarders Liability Insurance Coverage Offers
Third Party Liabilities
In the event that something should happen to the goods your company is transporting and a third party files a liability claim against you for their losses, your freight forwarders legal liability insurance may offer you coverage for mitigation costs, legal expenses, and more.
Your freight forwarder liability insurance may include coverage to repair or recover any lost units during the shipping or transport process, in addition to any necessary maintenance expenses.
Damage or Losses
Your freight forwarder liability insurance includes damage or loss to cargo during transit, whether the cargo is being transported by sea, by air, by rail, or by road. It may also cover costs that result from shipment delays as well as uncollected or abandoned cargo.
- Damages or loss of cargo during transit
- Third-party liability expenses
- Uncollected cargo
- Business services interrupted by natural calamities
- Lost units and damage repairs
- Intentional actions or damages
- Shipping or transport of illegal goods
- Undocumented income
- Wear and tear damages
- Maintenance issues
What is freight forwarders liability insurance?
Any company that deals in the coordination or handling of goods’ shipment via sea, air, rail, or road may be referred to as a “freight forwarder.” These companies face the risk of being held liable for accidental damages or losses to the cargo before it is delivered to the client. As such, freight forwarders liability insurance is a coverage package designed to provide financial coverage to these companies from claims made against them by third-parties for lost, damaged, or even delayed shipments.
Freight Forwarders Legal Liability Insurance for These Enterprises
Our Freight Forwarder Liability Insurance Partners
Freight forwarder liability insurance protects a company’s liability if they are held responsible for damages or losses to goods before it is handed over. Freight forwarders deserve the protection best fitted to them, the business they operate, and the type of cargo they ship and coordinate. LMBF partners with only the best freight forward liability insurance carriers in Canada to help freight forwarding enterprises get the coverage they need to conduct their business with peace of mind.