One of the last things you want as a logistics company is to have a loophole in your contingent cargo liability insurance. Filling these gaps might mean the difference between a satisfied client and a ruined reputation for many companies in the industry, such as:
- Brokerage firms
- Forwarding companies
- Shipping systems operators
- Logistics developers
With multiple clients and constantly shifting risk profiles, it might be next to impossible to advise accurately on every single aspect of loss mitigation strategy for each account.
Luckily, partnering with an experienced shipping insurance company might provide a solution to this nagging problem in third party logistics. In fact, you might find that your own costs reduce significantly once you start suggesting that your clients carry appropriate insurance for the cargo they own.
The most common way to do this is through a shipper’s interest policy. With a typical contingent cargo liability policy, there are usually several criteria for loss coverage. Your clients will probably appreciate that shipper’s interest insurance covers their loss regardless of fault.
Protecting your clients in the complex world of shipping doesn’t have to be a chore, and you don’t have to do it all yourself. In fact, referring your clients to an appropriate insurance policy is likely to be seen as a major point in your favor.