Cargo Insurance – Are you covered?
July 8, 2009 by Splatty
Filed under Misc Logistics
Cargo insurance might be on one of the least understood concepts in freight transportation. I have seen many claims come through from shippers expecting full recompense for damaged cargo only to find out that the shipment was covered for pennies on the pound under limited liability. I once had a customer who thought he was covered under a blanket policy; however, after his ocean container took a dive into the Pacific, he realized that he was not covered at all and potentially had to look at also paying the steamship line for the lost container.
I recently read an excellent article from Logistics Management about cargo and insurance liability that is a must read. Click here for the entire cargo insurance article.
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