Insurances for Transport & Logistics Industry

The Transport and Related Liability Cover (commonly known as MTO policy) takes care of all marine liabilities of the logistics industry. Parties who can be covered under this insurance are MTO, Freight Forwarder, Hauliers, In transit Warehousing, Ship Agents, Clearing and Forwarding Agents, Custom House Agents, Packing and Consolidating Agents.

The policy covers legal liabilities arising out of:

  • Physical loss or damage to cargo while in the care, custody and control of the insured, or a party who has contracted or sub-contracted to provide transport services
  • Physical Loss or damage to vessel or equipment owned or operated by a subcontractor or customer
  • Consequential loss and/or business interruption resulting from 1 above
  • Unrecoverable cargo's contribution to general average
  • Fines and Duty
  • The Errors and Omissions extension would cover legal liability arising out of the operations of the insured following a negligent act, error or omission by the insured, his agent or sub-contractor
  • The Third Party Liability extension would cover physical loss or damage to property, bodily death or injury or illness and legally recoverable consequential loss arising out of the operations of the insured

Pay the sums for which the insured shall become legally liable as compensation for physical loss or destruction of or damage to goods or merchandise while in transit including during loading or unloading and while temporarily housed on or off vehicles in the ordinary course of transit.

Policy covers:

  • Damage to cargo directly caused by fire, explosion or accident to the carrying vehicle
  • Carrier's liability for cargo
  • Cargo salvage, transshipment, emergency storage costs
  • Financial loss due to the lost freight in respect of the damaged part of the cargo
  • Legal and other costs, incurred in the litigation against the claimants
  • Costs of average adjusters
  • Breakage due to improper handling
  • Flood or water damage or damage by other cargo