TT Club Highlights the Special Nature of Freight Liability in Russia
International freight insurer TT Club convened a special seminar at the recent conference on transport and logistics, Trans Russia in Moscow. Lead by TT Club's General Manager, EMEA, Kevin King and Kirill Berezov from the insurer's long-established Russian network partner Panditrans, the seminar outlined both the changing nature of the transport operator's liability in Russia and the idiosyncratic nature of insurance conventions applicable in the region.
London & Moscow, 11 May 2015
TT Club believes that there is an urgent need for international freight forwarders, logistics companies and other transport operators doing regular business in Russia to understand fully the extent and nature of the liabilities that they bear when delivering customers' freight in the country. Increasingly the services which transport operators provide to cargo owners are expanding into areas beyond the straight-forward delivery of inbound containers, to such functions as cross-docking, warehousing, re-packaging, sub-assembly and distribution.
As a consequence, the liabilities for loss and damage to cargo, as well as third party claims, alter from the traditional norms with which they have been more familiar in the past. Education is therefore required so as such transport operators do not, unwittingly open themselves up to the possibility of high value claims against which their previously adequate insurance cover may not protect them.
TT Club, with its experience of twenty plus years as a player in the Russian freight liability arena, a resourceful base in the London market and an extensive global network of correspondents, is well qualified to provide such an education.
Berezov and King took advantage of the forum provided by the annual Trans Russia Conference in Moscow in late April to address some of the issues which often present difficulties to operators in Russia.
"In answering some vexed questions, such as whether there is a limit to transport operator liability, why cargo insurance isn't an alternative to liability cover and how careful risk management can avoid disastrous claims during a financial crisis and an upswing in criminal activity, we hope to assist operators to service trade to, within and from Russia more effectively", said King.
Panditrans' Berezov added, "The rules on liability in Russia can be quite different from those in other jurisdictions and without specialised knowledge and advice, many transport operators may experience a short-lived foray into the Russian freight market".
Notes to editors:
TT Club is the international transport and logistics industry's leading provider of insurance and related risk management services. As a mutual insurer, TT Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.
Customers include some of the world's largest shipping lines, busiest ports, biggest freight forwarders and cargo handling terminals, to companies operating on a smaller scale but whose operations face similar risks. TT Club specialises in the insurance of Intermodal Operators, NVOCs, Freight Forwarders, Logistics Operators, Marine Terminals, Stevedores, Port Authorities and Ship Operators.www.ttclub.com
About Thomas Miller
Thomas Miller is an independent and international provider of insurance, professional and investment services.
Founded in 1885, Thomas Miller's origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.
Principal activities include:
- Management services for transport and professional indemnity insurance mutuals
- Investment management for institutions and private clients
- Professional services
- Building defects insurance
Tel: +44 (0)1737 248300
Tel: +44 (0)20 7204 2632
You may also be interested in:
At the British International Freight Association (BIFA) Annual Awards Lunch in London last month, the global freight insurance specialist, TT Club presented the European Logistics Award to UK-based, independent freight forwarder The PSL Group.
International freight insurance provider, TT Club has been enthusiastically supporting the Seahorse Club journalist awards for some years. The Awards are specifically for journalists active in the shipping, freight transport and logistics arena. At the 2015 Awards Presentation the Club again sponsored what it considers to be a significant award category, 'The Newcomer of the Year', which was won by Joe Lo from the magazine Container Management.
Sponsorship of FIATA's Young International Freight Forwarder of the Year Award is a primary aim of leading international freight insurer, TT Club. This support of FIATA's training and development award is now in its eighteenth year.
The global freight transport insurer is encouraging supply chain stakeholders to understand better the interrelationship of the various functions in the intermodal network, particularly in the United States where one effect of the enlarged Panama Canal will be to increase importers' routing options in order to supply internal markets