Whether you own and operate heavy vehicles, or are specialized in freight brokerage, your transport logistics require made-to-measure insurance coverage. In operations of these kinds, a sizeable portion of the liability falls to the freight broker. Complete coverage is highly recommended with consideration for the following four elements:
Contingent Cargo Liability
Contingent cargo coverage will be important if the primary coverage of the sub-contractor to whom you brokered the load declines or refuses a claim. For example, this could occur if the sub-contractor’s freight coverage was cancelled mid-term or if the certificate of insurance you received was fraudulent. The contingent cargo liability policy will include the investigation, indemnity and defense costs for an eligible claim.
Commercial General Liability
Commercial general liability insurance is required for freight brokerage operations. This coverage will protect your business in the event of property damage and bodily injury claims filed by a third party and attributed to your activities, business sites, lines of work, products and services.
Automobile Insurance QPF#6 (non-owned form)
QPF#6 insurance is essential protection for Freight brokerage operations. Its definition makes it easy to grasp the scope of its coverage:
“The insurer agrees to indemnify the insured, the insured’s succession or legal representatives against the pecuniary consequences of civil liability the insured may incur for loss or damage arising from the use or operation in the business described in the Declarations of any automobile not owned or registered in the name of the insured, and resulting from personal injury or death of others or damage to property of others not in the care, custody, or control of the insured.”
This coverage could, for example, be needed if the sub-contractor’s automobile liability is insufficient to indemnify a claim.
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