Welcome to LMBF Assurances
The main operations of freight forwarders revolve around the shipping, management, and transportation of goods and products by carriers by sea, air, rail, or road. Freight forwarder liability insurance is designed as a solution for these carriers against accidental damage or loss of the transported cargo. If a third party files a liability claim against your freight forwarding company, your coverage will provide financial protection against the resulting expenses, such as legal fees, judgments, settlement fees, etc. LMBF can help you get 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!
Any company that deals with the coordination or handling of the shipment of goods by sea, air, rail, or road may be referred to as a “freight forwarder.” These businesses run the risk of being held liable for accidental damage or losses suffered by the goods prior to delivery to the customer. As such, freight forwarder liability insurance is a set of guarantees designed to provide financial coverage to these businesses against claims made against them by third parties for lost, damaged, or even delayed shipments.
Freight forwarder liability insurance covers damage or losses suffered by goods during transport, whether transported by sea, air, rail or road. It can also cover costs resulting from shipping delays as well as goods not collected or abandoned.
If something were to happen to the goods your business is transporting and a third party files a lawsuit against you for their losses, your freight forwarder liability insurance can offer you coverage for mitigation costs, legal fees, and more.
For freight forwarders, logistics providers, 3PLs, transportation brokers and companies that organize shipments on behalf of clients.
Types of goods, volumes, destinations, modes of transport, subcontractors, contractual conditions, internal controls and claims history.
Intentional acts, fines/penalties, contractual warranties not insurable, undeclared risks and certain high-value/risk goods, depending on the insurer.
Freight forwarder liability covers faults in the organization service; cargo insurance covers loss/damage to goods during transport.
Claims related to an error, omission or negligence in transportation organization (documents, instructions, carrier selection, subcontracted handling, delays, etc.), according to the contract wording.
Yes. Liability limitation clauses, general conditions and Incoterms influence exposure and insurance requirements.
