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Transport & Logistics Operators Cover
The role of the transport operator has evolved over the years with increasing competition and changing regulatory frameworks, especially as more businesses move into the field of logistics. Consequently, companies are exposed to ever greater liabilities.
Companies who operate freight services by sea, road, air, rail or river are included in this category of insured and therefore, encompass freight forwarding, railway or stack train operations, NVOCs, inland waterway operators, trailer operators, parcel carriers, tank or container operators, air freight carriers, road hauliers and warehouse/depot operators.
In today's global supply chain, value-added services such as labelling, procurement, sub-assembly and merge-in-transit are increasingly demanded of logistics operators. Further, they may be asked to accept more onerous risks, such as full-value contracts.
The range of risks covered by the Club minimises the need to buy separate covers. A single package can be tailored to specific needs, reducing gaps and overlaps in cover.
Wherever cargo is being transported, the practical and legal difficulties that may arise when dealing with claims can be handled efficiently by the Club's global network of offices and partners.
Standard covers include:
- Liabilities for loss of or damage to cargo
- Liabilities for errors and omissions
- Third party liabilities
- Fines for regulatory breach including eg customs, pollution and safety at work
- Costs including misdirection, investigation, defence, disposal and mitigation
Property covers include:
- Docks and wharfs
- Handling equipment
- Straddle carriers
- Reach stackers
- Top lifters
- Fork lifts
- RoRo ramps
- Tractor units
- Locomotives and rolling stock
- Rail & road infrastructure
Additional covers may include:
- Loss of or damage to owned or leased equipment
- Ships' agency liabilities
- FMC bonds for NVOCs
- Business interruption
- General average and salvage guarantees and contributions
Long term contracts are available on request subject to agreement of terms. Enquiries should be directed to your broker, or to the Club.
Examples of how TT Club helps its members.