What is this type of insurance?
The forwarder's liability insurance covers the contractual liability of the freight forwarder acting as a commission agent, operator or warehouse operator for damages caused to a customer) in case of non-fulfillment of obligations under a forwarding contract. The insurance is excluded for a period of one year.
The insurance can be excluded by any company that acts as:
- commission agent - as a proxy or as a sales representative of the client under the General Special Conditions of the National Association of Bulgarian Freight Forwarders (NSBS);
- operator under the General Special Conditions of NSBS;
- warehouse operator under the General Warehouse Conditions of NSBS.
What does the insurance cover?
The insurance reimburses and covers:
- financial losses of a client, follow-up of errors and omissions of the freight forwarder, when the insurance is excluded by a freight forwarder who acts as a commission agent, as a full proxy or as a commercial forecaster;
- damages from shortages and damages of the goods and financial losses of the client as a result of mistakes and omissions of the forwarder, when it is excluded by the forwarder in his capacity as an operator;
- damages from shortages and damages of the goods and financial losses of the client as a result of mistakes and omissions of the forwarder, when he is excluded by the forwarder in his capacity of the warehouse operator under the general warehousing conditions of NSBS.