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 Freight forwarder’s liability  insurance

Freight forwarder’s liability insurance

You want to be protected in case you unintentionally cause damage while exercising your activity? Secure your business by insuring your liability and ensure yourself that your clients will receive an indemnity in case of a damage of your making!

Advantages

This insurance is intended for freight forwarders, which exercise their activity in compliance with the STANDARD FORWARDING CONDITIONS /SFC/ and the STANDARD WAREHOUSING CONDITIONS /SWC/ of the Bulgarian National Freight Forwarding Association (NSBS).

The FREIGHT FORWARDER may act as a:

  • COMMISSION AGENT – on behalf and for the account of the CLIENT and/or the OWNER
  • COMMERCIAL AGENT – on its own behalf but for the account of the CLIENT and/or the OWNER
  • OPERATOR – on its own behalf and for its own account
Contract period 1 year

Application

This insurance policy covers the negotiated liability of the Insuree for damage, inflicted on the principal (client) upon failure to carry out the commitments undertaken under the freight forwarding contract.

Main Coverage Options

A freight forwarder acting as a COMMISSION AGENT /CLAUSE A/ – as a Proxy or Commercial Agent of the client under SFC of NSBS
  • financial loss for the client as a result of the freight forwarder’s errors and omissions
A freight forwarder acting as an OPERATOR /CLAUSE В/ under the SFC of NSBS
  • damage due to shortages and impairments of the goods
  • financial loss for the client as a result of the freight forwarder’s errors and omissions
A freight forwarder acting as a WAREHOUSING OPERATOR /CLAUSE C/ under the SWC of NSBS
  • damage due to shortages and impairments of the goods
  • financial loss for the client as a result of the freight forwarder’s errors and omissions

Additional information

How do you conclude the insurance policy?

This insurance policy is concluded on the basis of a Proposal-Questionnaire that you fill-in using the Insurer template, while providing the following mandatory information regarding the individual clauses:

  • revenue from forwarding activity in original currency – when the freight forwarder acts as a COMMISSION AGENT (Clause А)
  • gross revenue from freight rates, warehousing and reloading services in original currency – when the freight forwarder acts as a transport OPERATOR (Clause В)
  • a monthly report on the maximum monthly value of goods in forwarder’s warehouse in original currency or another selected currency when the freight forwarder acts a WAREHOUSING OPERATOR (Clause С)
Начин на плащане?Manner of payment? You can pay the insurance premium in cash or via a bank transfer. Due subsequent installments can be paid online.
Where can you conclude an insurance policy? At DZI offices, as well as with our professional partners (agents and brokers)

Needed documents for policy conclusion

  1. Proposal-Questionnaire for conclusion of a Freight Forwarder’s Liability Insurance

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