Since
the Government, with effect from 20 July 2007,
introduced an exemption which removes the need
for freight forwarders or storage firms who are
carrying on insurance mediation with commercial
customers to be authorised under the Financial
Services and Markets Act 2000 (FSMA), we have been
able to offer marine insurance to commercial clients.
A general outline of the insurance we hold
is detailed below.
Freight
Forwarders Legal Liability (as carriers & agents)
We hold insurance for legal liability arising whilst
acting as freight forwarding carriers and agents
to the sum of up to £250,000 per single vessel,
aircraft or conveyance. This covers cargo whilst
in our care.
Standard
Conditions
Standard conditions are defined by the following
Institute Clauses and covers cargo in the ordinary
course of transit:
- Institute Cargo Clauses (A)
- Institute Cargo Clauses (Air)
- Institute Classification Clause
- Institute War Clauses (Cargo)
- Institute War Clauses (Air Cargo)
- Institute War Clauses (Sendings By Post)
- Institute Strikes Clauses (Cargo)
- Institute Strikes Clauses (Air Cargo)
- Institute Cyber Attack Exclusion Clause
Limits
Of Liability Insurance covers what is termed as Approved General
Merchandise, that is goods not particularly susceptible
to breakage, theft, leakage or water damage etc.
Examples of goods which we are not covered for and
would require the customer to either arrange their
own insurance or instruct us to take out specific
insurance include:
- Antiques
- Computers
- Documents
- Currency
- Jewellery
- Household Goods
- Personal Effects
- Motor Vehicles
- Perfume
- Bottled Goods
- White Goods
- Food Stuff
Warehousing
Goods covered by our insurance are covered whilst
in storage at our warehousing facility.
FOB
Sendings
Goods are covered from the time they leave our warehouse
to the time they arrive at the airport or port prior
to boarding, after which cover is either transferred
to the recipient or falls under the standard Institute
Clauses.
Incoterms
Insurance requirements will vary on your cargos
sales terms which are defined as Incoterms. For example,
if you are exporting to a customer in China and have
sold your goods 'Ex Works' then you are not liable
for insurance, the buyer is, but if your sales terms
are 'Delivered Duty Paid' then you are liable for
insurance for the entire journey from your factory
through to the final destination. Either way, most
cargos can be covered by our insurance.
Disclaimer
If
information on this page in no way reflects the
exact nature of the insurance provided and is meant
only as a guide in the first instance as to the
general nature of the insurance we are able to
provide.
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