Freight Services and Warehouse Keepers Liability Insurance

Freight Services and Warehouse Keepers Liability Insurance – what is it about?

Freight Services Liability Insurance – the most experienced cargo carriers or freight forwarders are not immune to mistakes that could result in damage, destruction or loss of the cargo entrusted to them. If the carrier or freight forwarder is held liable for such loss, its interests will be protected, and incurred losses will be indemnified by the Freight Services Liability (FSL) insurance policy.
Road Hauler’s liability is regulated by the Convention on the Contract for the International Carriage of Goods by Road (CMR).

 

Warehouse Keepers are responsible for the third parties cargo storage safety and security, also including additional professional services to be provided accurately. Warehouse Keepers Liability cover is in case of direct physical loss or damage of property during the storage, also other services provided by the warehouse operator in case of error as a professional mistake which causes financial losses to the clients

What shall we insure?

  • Carrier‘s/Freight forwarder‘s civil liability

  • Errors and Omissions

  • Warehouse keeper’s civil liability

  • Third party liability

  • Freight demurrage and defence costs

What can we include additionally?

  • Liability when damage is caused by gross negligence

  • Cargo debris removal costs after the event

  • Damage to vehicles of subcontractors and to cargo of the others

  • Cabotage carriages according to local legislation

  • Consequential financial losses

  • Cargo storage costs

  • The cost of transporting the goods to their destination, including temporary storage, unloading, reloading and transfer to another means of transport

  • Personal belongings of the driver

  • If Errors and Omissions Clause is included under the policy, we will automatically cover:

  • Customs fines and duties

  • Liability for damages caused by subcontractors

  • Liability for late delivery of cargo

  • If you choose Third Party Liability insurance clause, we will also insure:

  • Liability for environmental pollution

  • For many additionally insured risks sublimits, specified in the insurance policy, apply.

What can we include additionally if you choose Warehouse Keepers Liability Insurance?

  • Customs fines

  • Labelling errors (confusion of labels)

  • Shipment to the wrong address, wrong consignee

  • Loss or damage to the cargo in the warehouse

BUNDA FSL insurance advantages

  • Broader insurance coverage than required by CMR Convention

    We insure carriers’ and freight forwarders’ liability, arising under all applicable laws, international conventions and even, subject to prior agreement, contracts or agreements with customers.

  • Total cargo value

    We can extend insurance coverage to include liability for the entire cargo value, not restricted to the CMR convention provisions.

  • Insurance of the entire turnover of transported cargo 

    We automatically insure the entire cargo turnover, so no need to inform us if you buy or sell a vehicle.

Practical examples

Driver,Comes,To,Parked,Truck,And,Opens,Door,Of,Trailer
Food cargo damage by refugees

Claim amount: EUR 58 thousand
During the mandatory driver’s rest period, refugees got into the semi-trailer and damaged the food cargo and its packaging. Due to the potential risk of contamination, most of the cargo has been disposed of.

Trucks,With,Cargo,On,Highway,,Shipping,And,Transportation,Concept
Phantom carrier

Claim amount: EUR 70 thousand
The road hauler hired a subcontractor using the online freight booking platform. The subcontractor with the cargo never arrived at the point of destination.

Broken,Destroyed,Solar,Panel,Outside
Solar panels cargo damage

Claim amount: EUR 23 thousand
The solar panels cargo was damage during transportation. Damage was caused by improper loading / fastening, which under contractual responsibility of the carrier.

viber_image_2020-08-11_13-10-221
Road construction machinery cargo damage

Claim amount: EUR 30 thousand
During transportation, the chain holding the cargo (a road construction machinery – compactor) was broken during the turn, so the compactor fell off and was severely damaged.

Get an FSL and Warehouse Keepers Liability insurance quote

To get an insurance proposal, please fill in the below form. We will contact you shortly to ask some more questions to collect the information that is necessary to provide a quote.






    * Compulsory field

    Alternatively, please complete our Application Form and send it to us by email CMR@bunda.eu. This way we will be able to assist you faster!

    Download Freight Services Liability Insurance form Download Warehouse Keepers Liabilities Insurance form
    Download FSL Insurance Product Information Document (IPID)
    Contact FSL Insurance Underwriter Report FSL Insurance Claim Frequently Asked Questions about FSL Insurance

    Practical examples

    Driver,Comes,To,Parked,Truck,And,Opens,Door,Of,Trailer
    Food cargo damage by refugees

    Claim amount: EUR 58 thousand
    During the mandatory driver’s rest period, refugees got into the semi-trailer and damaged the food cargo and its packaging. Due to the potential risk of contamination, most of the cargo has been disposed of.

    Trucks,With,Cargo,On,Highway,,Shipping,And,Transportation,Concept
    Phantom carrier

    Claim amount: EUR 70 thousand
    The road hauler hired a subcontractor using the online freight booking platform. The subcontractor with the cargo never arrived at the point of destination.

    Broken,Destroyed,Solar,Panel,Outside
    Solar panels cargo damage

    Claim amount: EUR 23 thousand
    The solar panels cargo was damage during transportation. Damage was caused by improper loading / fastening, which under contractual responsibility of the carrier.

    viber_image_2020-08-11_13-10-221
    Road construction machinery cargo damage

    Claim amount: EUR 30 thousand
    During transportation, the chain holding the cargo (a road construction machinery – compactor) was broken during the turn, so the compactor fell off and was severely damaged.