Contingent Cargo Liability Insurance to Protect You and Your Clients
March 13, 2017
There are many ways to ship products, by truck, rail, air or sea. Contingent cargo liability insurance protects customers from potential losses that could occur during transit of goods. Transportation specialists need to have the proper coverage in place to facilitate when they are unable to deliver shipments due to any number of insured causes. Having insurance protects not only their business assets, but also helps to keep the companys reputation intact. Its important to maintain good relationships with customers and clients and this helps to further promote company growth.
Cargo insurance, underwritten by groups called managed risk clubs, covers nearly every possible risk you may face. In the event that the manager risk club should decline payment on a claim for the loss or damage of a shippers cargo, the shipper will likely demand that the freight forwarder make good on losses incurred. To protect against such claims, freight brokers carry contingent cargo insurance to pay the claims that the carrier will not.
A cargo insurance policy tailored to fit your needs
A cargo policy can be tailored to fit your needs. In order to properly manage transportation costs, you need the ability to have real transportation supply chain visibility. This requires true system integration operating between a warehouse management system, management of the procurement, storage, and the packing and delivery process. This allows for better communication between all of the parties involved and provides clients with the ability to check on whether there will be time delays, added expenses, and even backlogs. With so much going on, and so much at stake, having coverage for any and all exposures can only benefit the many parties involved.
Agencies dealing in contingent cargo insurance coverage are aware that there may be existing gaps in some policies, and are able to provide you with some of the best programs currently available to this dynamic industry. Whether you arrange for transportation of goods across the US, or around the globe, you may fall victim to theft, accidents, or other mishaps that can have a negative effect on your bottom line.
So partner up with an insurer that provides reliable service and comprehensive coverage, because the only way to protect your profits from losses is a customized continental cargo liability insurance program.