Freight Forwarders Liability
"The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails."
Freight Forwarders/Legal Liability/Errors and Omissions insurance provides coverage to a freight forwarder or load broker for their liability for physical loss of or damage to customers’ cargo and for their consequential loss resulting from such loss or damage.
Errors and Omissions insurance covers liability for financial loss incurred by the customer due to a failure to perform contractual obligations. In the event of physical loss or damage to the cargo belonging to freight forwarder customers, or resultant financial loss suffered by the cargo owners, freight forwarders will be required to protect their liability and in certain situations reimburse cargo owners for their loss.