» Arco Transport Insurance
When transporting a customer's goods, all companies handling transportation assume the liability for delivering the goods intact, without losses and on time. In order to avoid being held solely liable for potential damages, most companies have insured their risks or liability.
Since companies of different types exist on the transportation market, there are different types of liability insurances, e.g. Forwarder's Liability Insurance and Carrier's Liability Insurance.
Arco Transport AS has a Freight Forwarder’s Liability Insurance with Vagner.
As legally the forwarding company that accepted the goods for transportation and that has no fleet of its own, is held liable before the customer, the forwarder normally holds Forwarder's Liability Insurance. The maximum amount of the forwarder's liability is determined in SDR. SDR (Special Drawing Rights) is the calculation unit of the international currency fund and the exchange rate of SDR towards the Estonian kroon is fluctuating and it is also indicated together with the major currencies.
The carriers generally hold a similar insurance, which is called CMR or the carrier's liability insurance, the maximum amount of which is also 8,33 SDR/kg. The main difference compared to the forwarder's liability insurance is that the liability is limited to the risk arising out of transporting of the goods. Another insurance an international transportation company should hold is the TIR insurance against customs risks, which considerably simplifies the transit of goods through different countries. After Estonia joined EU this type of insurance is appropriate for cargo heading for Russia .
If the customer feels that they need additional insurance, the customer is able to obtain a separate insurance policy for their cargo or obtain the policy in cooperation with the forwarder's insurance company. Conditions of the additional insurance differ by insurance companies, nevertheless, the most common condition is 0,4% of the cost of cargo, but not less than EEK 1000.- per agreement.
If you would like to arrange additional insurance for your transportation orders trough Arco Transport then please speak with your designated freight forwarder.
| Arco Transport Ltd | Pärnasalu 11, Saue, Estonia | Tel +372 6816000 | | |
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