Freight Forwarder Insurance Policy By Kiln Regional Underwriting Ltd. Syndicate 510 At LLOYDS.
TERMS AND CONDITIONS APPLICABLE TO FREIGHT SERVICES
A) COVERAGE - CARGO AND RELATED LIABILITIES
The Policy covers the legal and/or contractual liability of the Insured for the following:-
Physical loss or damage to cargo whilst in transit or during storage in the normal course of transit.
1.1 Consequential Loss
Consequential Loss, including demurrage, arising out of and following liability under Clause 1.0 above Incurred by a cargo owner or cargo bailee, subject to a sub-limit of USD 250,000 any one incident tor Occurrence;
1.2 General Average
Cargo's proportion of general average, salvage or salvage charges
Duty forming part of a claim for physical loss or damage to cargo, other than duty under any from of Bond or guarantee.
1.4 Damage to Transport Equipment and other Cargo
Loss or damage to transport equipment operated by another party and/or cargo or property owned or Leased by another party, resulting from the mode and/or manner in which the cargo being transported Or stored during the normal course of transit by the Insured is secured and/or stowed, but subject to a Sub-limit of USD250,000 any one incident tor occurrence;
1.5 Temporary Storage
Loss or damage to cargo during Temporary Storage following rejection of cargo by consignee, or where The consignee does not take delivery, provided that Insurers are notified within a reasonable time of the Rejection or non-delivery as above
2.0 THE POLICY ALSO COVERS COST AND EXPENSE OF THE FOLLOWING:
2.1 Uncollected Cargo
The extra cost incurred by the Insured solely by reason of the failure
of a consignee/cargo receiver to Collect cargo at designated place of
delivery, subject to:
2.2 On-forwarding Costs
On-forwarding cargo to destination including, Temporary Storage, unloading,
reloading and transfer of
Removal, disposal and destruction of cargo debris from public road following an accident to Transport Equipment, but subject to a sub-limit of USD 250,000 any one incident or occurrence.
TERMS AND CONDITIONS APPLICABLE TO FREIGHT SERVICES
B) SPECIAL CONDITIONS AND EXCLUSIONS
1.0 CONDITIONS PRECEDENT TO THE LIABILITY OF INSURERS:
The following matters under Clause 1.0 are conditions precedent to the liability of Insurers:
1.1 Contract Conditions
The Insured shall contract under current FIATA terms and conditions, or under current ters and conditions Of a national forwarding association affiliated to FIATA or under General Conditions of Trade or Carriage That shall have been seen and approved by Insurers and confirmed by endorsement on the Policy.
1.2 Carriage by Sea
a) Where the Insured contract to carry by air and/or Bills of Lading
are issued b yor on behalf of the Insured, such contracts and/or Bills
of Lading shall include a Paramount Clause incorporating the Hague Visby
Rules as enacted by the Carriage of Goods by Sea Act 1971, or equivalent
national Legislation under the Hague Visby Rules (in the case of shipments
to or from the United States, US COGSA);
1.3 Carriage by Air
Where the Insured contract to carry by air and/or an Air Waybill is issued by or on behalf of the insured, The Warsaw Convention as amended by the Montreal Protocol and any subsequent amendment must be Contractually incorporated and liability for transportation outside the period set out under the said Convention/Protocol shall be expressly limited to the same monetary limits under the Convention/Protocol (or less), unless a higher limit is imposed by local law;
1.4 Road Transport - Sub-contractor's Conditions of Carriage and Insurance
Where the Insured sub-contracts carriage of cargo wholly or partly by road (a) the sub-contractor shall Contract on terms and conditions no less wide than those of the Insured, except where such terms and Conditions are imposed by law or do not materially affect liability and/or amount of the claim for loss or Damage to cargo and.(b) the Insured shall take reasonable care to ensure that the sub-contractor has Valid and sufficient cargo liability insurance cover , save that where the Insured does not comply with This obligation a claim may be recoverable under the Errors and Omissions Additional Cover if effected Provided that the Insured has in operation reasonable procedures for checking insurance and the failure To verify the insurance cover has arisen as a result of an isolated negligent act error or omission of the Insured or its employees;
1.5 Road Transport - High Risk Cargo
Where the Insured carriers High Risk Cargo by road, the vehicle/trailer,
2.0 HIGH RISK CARGO
High Risk Cargo is not covered under the Policy unless specifically disclosed to Insurers in writing and confirmed By endorsement on the Policy. Subject 7 (seven) clear days written notice to the Insured, Insurers may amend The list of High Risk Cargo.
3.0 EXCLUDED CARGO
The Policy excludes liability relating to Excluded Cargo.
4.0 EXCLUDED CONTRACT TERMS
The Policy excludes claims arising out of any oral or written contractual agreement:
a) to a shipment or delivery date or time; or
5.0 INSURED'S PROPERTY
The Policy excludes claims in respect of property and/or cargo owned, leased or licensed by the Insured unless Specifically agreed by Insurers and endorsed on the Policy.
6.0 INSURED OPERATIONS
The Policy excludes claims in respect of any Operation not previously declared to Insurers and agreed by them To be covered, save that any Operation (not excluded under any term, condition or exclusion in this Policy) Which is reasonably ancillary to a declared and agreed Operation shall be covered under this Policy.
7.0 LIABILITY TO CUSTOMS
The Policy excludes claims by Customs, an similar Governmental or European Union authorities except where insured under the Errors and Omissions Extension.