BUNDA Cargo ir FSL seminar

Europe’s road freight services sector and logistics industry face new challenges. The war in Ukraine has directly impacted freight services providers in the region, hence they need to find new ways to manage and mitigate their #risks.
Most of the current logistics insurance challenges were discussed during an online seminar for Lithuanian insurance brokers organized by BUNDA and the Lithuanian Chamber of Insurance Brokers.
BUNDA’s Cargo and FSL underwriters Kristupas Meškuotis and Rafal Narkevič reviewed current trends and the Ukraine conflict’s impact on the insurance market and insurance coverage. Meanwhile our lawyer Eglė Kungienė and claims handler Gintautas Rokaitis shared many practical advice and tips related to claims and losses considering the war situation and sanctions imposed against Russia and Belarus.

Here are a few minor insights from the seminar:

  • Companies should prepare for disruption in operations.
  • Companies must ensure proper implementation of sanctions.
  • Companies should increase their focus on cyber security.
  • Companies should monitor logistics constraints and costs.
  • Companies should assess and understand what insurance coverage they have.

Should you require further information, please do not hesitate to contact us by email cmr@bunda.eu.

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Exhibitor’s Liability insurance

After the outbreak of Covid, most events were stopped or converted to online/virtual mode. This pandemic has hit the events industry hard. But we have good news – major Trade shows and conferences are returning after a couple of years of disruption due to the pandemic.
Businesses looking to demonstrate their products in front of a highly relevant audience are participating in Trade shows and Exhibitions. Very often they are requested to hold specific insurance cover. BUNDA is introducing an exclusive insurance solution for your corporate clients – Exhibitor’s Liability insurance. This is the comprehensive cover that is designed to protect against 3rd party bodily injury and/or property damage claims arising as a result of the Exhibitor’s negligence.

Key insurance cover features:

  • Limits from 1 000 000 € to 5 000 000 €
  • Deductible from 1 000 €
  • Premium from 200 €
  • Cover for events up to 7 days (during setup, show days, and dismantling of stands)
  • Territory EU and Non-EU
  • Currency Euros or other equivalents

Please submit your inquiries by email at ask@bunda.eu.

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Motivation in may

Did you know that you may be able to trick yourself into feeling motivated by changing your behavior? For example, rather than sit and wait for motivation to strike, just take action (e.g. get dressed and get moving, call your client and invite him/her for a dinner, take a course, and learn something new). You might find that taking action will increase your motivation, which makes it easier to keep going.

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Where and how does the CMR convention apply?

Understanding where and how the CMR convention applies is essential to ensure having the correct Freight Services Liability insurance.
Road haulers or Freight forwarders should manage their risks and consider when they are fully liable for damage, loss, or delays during the carriage of goods by roads.
Carriers are required to pay damages to cargo only if they are proven to be responsible for causing the loss. The amount of the carrier’s liability is limited according to CMR convention, however, we are seeing increasingly that there is the ability when they are considered fully liable for the damages due to wilful misconduct also called gross negligence.
Article 29 of the CMR Convention specifically provides that a carrier may not exclude, limit, or otherwise shift the burden of proof under the CMR convention, if the damage has been caused by his willful misconduct.
Here are a few tips on how to avoid unlimited liability claims:

  • Strictly follow customer’s instructions sent with orders (in respect of routes, transportation conditions, storage and etc.).
  • Accurately plan route and rest-stops (chose a safe rest-stop spot like paid truck stops, secured parking, fenced or proper lighting parking, and similar).
  • Improve the security of your trucks with specific security equipment like installing security cameras, high-security locks, usage of hard-side containers and etc.
  • Avoid long-stay parking close to the loading/unloading area, especially whilst vehicles are full of valuable cargo.

These advices won’t prevent thefts entirely, however it will allow mitigating some risks and the possibility of unlimited liability claims.
For CMR insurance inquiries please contact cmr@bunda.eu

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