Cargo Ship

Insuring Against Risk and Contingent Cargo Liability Insurance

Shippers and freight forwarders have an interesting relationship. Shippers hire freight brokers who negotiate transportation contracts on behalf of the shipper. However, should their cargo become lost, stolen, or damaged in transit, the shipper will then hold the broker liable.

In order to protect themselves against any potential claim, freight brokers carry contingent cargo liability insurance that helps to ensure retribution to the shipper when a claim is made.

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