1. Cargo Insurance
Cargo transportation is connected with various risks. Goods are sensitive to damage or might get lost all together.
2. Freight Forwarderís Liability
The comprehensive insurance of transportation services covers not only the legal but also the contractual liability risks of the freight forwarder, the shipping agent and the warehouse manager. Logistical risks can be insured on their own, too.
According to the law and to the terms and conditions (e.g. ADSp (General Terms and Conditions for German forwarders)), freight forwarders are obliged to take out a liability insurance that covers contractually fixed transportation risks. This kind of far reaching liability is covered by the freight forwarder’s liability.
3. Hull insurance
This insurance covers the destruction, damages to, or the loss of transport vehicles. It includes ocean-going and inland waterway vessels as well as railroad, or special utility vehicles.
The contingency insurance covers costs that arise because a planned event has to be postponed, fundamentally changed, or cancelled for reasons that demonstrably do not fall into the responsibility of the policyholder.