Freight Forwarders Liability

Freight Forwarders’ Liability Insurance

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Freight Forwarders

In summay Freight Forwarding Services are to include following sectors:
· Ocean freight forwarder / NVOC
· Air freight forwarder / air cargo agent
· Customs Agent
· Road haulier
· In transit warehousing
· Packing / Consolidating

So Many Claims

Getting goods from point A to B usually involves numerous parties in the supply chain. When things go wrong and substantial losses are incurred, who will be held liable?


Any number of parties can instigate legal proceedings:
· The cargo owner - your customer
· Sub-contractors
· Owners or operators of the vessel, aircraft or truck carrying the cargo
· Authorities
· Third parties to whom you owe a duty of care

Claims can be made under a contract, standard terms of trade, ocean bill of lading or airway bill. Additionally, third party claims in tort, bailment and statutory liabilities can catch you unaware. It is even more difficult when a customer brings a claim against you. After all, the success of your business depends on customer relationships.

What risks do we insure?

Freight Forwarders’ Liability Insurance provides full coverages for all sectors of your services, including but not limited to your transportation services, loss or damage to cargo, consequential loss, misdelivery, delay, fines & duties, and off course third party legal liability (see diagram)

Description of Covers

· Cargo liability
Liabilities arising from physical loss or damage to cargo in your care, custody or control, provided that liability arises from an international transport convention or under an approved contract.
· Liability to customers' equipment
Covers liability for loss or damage to your customers' equipment resulting from your legal liability.
· Liability for consequential loss
Covers liability for consequential loss arising from a cargo or equipment claim made against you.
· Liability for misdelivery of cargo
Covers liability in the event of an error or omission.
· Liability for misdirection costs
Covers liability in the event of an error or omission.
· Liability for delays
Covers liability in the event of an error or omission.
· Liability to general average
Covers liability where cargo interests are required to contribute to general average and salvage and which you are unable to recover from your customer.
· Liability for fines & duties
Covers fines etc for unintentional breaches of regulations relating to cargo, immigration, pollution or work safety conditions.
· Third party legal liability
Covers liability for bodily injury or physical loss or damage to third party property resulting from an accident whilst directly performing your insured service.
· Liability for unintended pollution
Covers liability for sudden & accidental pollution & clean up costs.
· Claim & Legal Costs
Covers the costs of defending and mitigating claims made under the policy.

How to Insure?

To have a Quote for Freight Forwaders Liability Insurance is very easy you just need to complete Proposal Form and submit House Bill of Lading or AirWay Bill, and Company Profile for review

For Inquiry, Please contact: +628128079130
or email: imusjab@qbe.co.id

by IMAM MUSJAB at http://ahliasuransi.com/

Source: http://www.qbe.com/

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Directors & Officers (D&O) Liability Insurance

Directors and Officers Liability Insurance (D&O)

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(Why) do Directors and Officers need D&O Liability?

• Increased Personal Responsibility
Directors and Officers can now be personally sued by shareholders, creditors, customers, employees and members of the public

• Increased Litigation
As individuals and companies become more aware of their rights, they are increasingly turning to litigation to cover loss

• Increased Regulation
Company affairs are coming under increasing scrutiny from Government and Industry regulatory bodies. The costs of legal representation during such investigations can be significant, regardless of whether court action follows


(What?) does Directors and Officers Liability Insurance (D&O)



It cover Director or Officer against wrongful act

• Covers any past, present or future Director or Officer or Commissioner, secretary or employee of the Company or any natural person who by virtue of any applicable legislation or law is deemed to be a Director or Officer or Commissioner;

• Against any actual or alleged wrongful act or omission including any misstatement, misrepresentation, breach of trust, breach of duty or breach of warranty of authority committed by an Insured Person (Director or Officer or Commissioner)

D&O provides covers for……………
• Civil Proceedings
• Employee Actions
• Prospectus Liability
• Official Investigations and Inquiries
• Successful Defense of Criminal Proceedings
• Outside Directorships (optional Extension)

D&O provides Automatic Extensions for……………
• Libel and Slander
• Intellectual Property
• Employment Practice Liability
• Automatic Cover for Subsidiaries
• Subsidiary Run-off Cover
• Official Investigations and Enquiries
• Severability and Non-imputation
• Estates and Legal Representatives
• Additional Reporting Period
• Advance Payment of Defense Costs

D&O provides Optional Extensions for……………
• External Positions (Outside Directorships)
• Pollution
• Joint Venture Liability
• Entity Cover

Who are the Insured Person?

any past, present or future

• Director

• Officer

• Commissioner

• secretary

• employee


Who claims against Directors and Officers?

Directors and Officers can now be personally sued by….
• Regulatory Authorities
• Creditors
• Shareholders
• Competitors
• Members of the Public
• Liquidator / Receivers
• Employees
• Customers


• Regulatory Authorities
Surrounded by a climate of accountability, Directors and Officers may be subject of inquiries or prosecutions by government regulatory bodies set up to monitor industry, For example, competition, company and tax authorities are vigilant and may investigate such problem as alleged price fixing by a number of companies, or may prosecute if they suspect that account have been signed which are not a true and fair record

• Creditors
Directors and Officers may be personally liable to creditors for continuing to trade or distributing dividends whilst the company is insolvent.

• Shareholders
Shareholders may bring proceedings in the name of the company against Directors and Officers personally alleging……….
ü Mismanagement of company assets or imprudent loans and investments
ü Failure to arrange adequate insurance
ü Negligent recommendations or incorrect public statements concerning acquisitions, mergers or capital restructuring

• Members of the Public
Claims could be brought by members of the public alleging misrepresentation in the prospectus to entice debenture holders or shareholders to invest in the company

• Competitors
Disgruntled competitors could bring proceedings against Directors and Officers alleging misleading advertising, for example, advertising that unfairly compares the company’s product to that of the competitor’s
………..price fixing;……..dumping of product in the market…, competitors who allege that their business has been adversely affected would be likely to claim against them.

• Liquidator / Receivers
A liquidator / receiver could sue the Directors and Officers on behalf of the company for alleged breaches of duties owed to the company

• Employees
Employees may bring proceedings against Directors and Officers alleging unfair dismissal, discrimination or sexual harassment.

• Customers
Customers may bring actions against Directors and Officers alleging breaches of the consumer laws, for example misrepresentations made in advertising material or deceptive trade practices.


By IMAM MUSJAB at http://ahliasuransi.com/

Source: http://www.qbe.com/

To obtain a quote, proposal or inquiry
Please call: 08128079130
Or email: imusjab@qbe.co.id

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Claim Procedure - Liability

Claims Procedure: PUBLIC and/or PERSONAL LIABILITY CLAIMS

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1. Notification of Circumstance

If during the Period of Cover, the Insured becomes aware of any fact or circumstance that may give rise to a Claim, the Insured shall give notice in writing to THE INSURANCE COMPANY of such fact or circumstance, then any Claim which may subsequently arise out of such fact or circumstance shall be deemed to be a Claim made during the Period of Cover. PROVIDED ALWAYS THAT such written notice is given to THE INSURANCE COMPANY during the Period of Cover.


2. Reporting and Notice

a. The Insured shall give to THE INSURANCE COMPANY written notice as soon as practicable of any Claim made against the Insured PROVIDED ALWAYS THAT such written notice is given to THE INSURANCE COMPANY during the Period of Cover.

b. Notice of any Claim shall be given in writing to THE INSURANCE COMPANY,

3. Defence and Settlement

a. The Insured agrees not to settle any Claim, incur any Costs and Expenses, make any admission, offer or payment or otherwise assume any contractual obligation with respect to any Claim without THE INSURANCE COMPANY's written consent, such consent not to be unreasonably withheld. THE INSURANCE COMPANY shall not be liable for any settlement, Costs and Expenses, admission, offer or payment, or assumed obligation to which it has not consented.

b. THE INSURANCE COMPANY shall be entitled at any time to conduct, in the name of the Insured, the defence or settlement of any Claim.

c. THE INSURANCE COMPANY may, if it believes that any Claim will not exceed the Deductible, instruct the Insured to conduct the defence of the Claim. In such situation, THE INSURANCE COMPANY will reimburse the Insured for all reasonable Costs and Expenses in the defence of the Claim in the event that any payment made to dispose of the Claim exceeds the Deductible.

4. Legal Counsel

a. THE INSURANCE COMPANY shall not require the Insured to contest any Claim unless a legal counsel (to be mutually agreed upon by the Insured and THE INSURANCE COMPANY) shall advise that such Claim should be contested.

b. In formulating such advice, legal counsel shall take into consideration the economics of the matter, the damages and costs which are likely to be recovered by the claimant, the likely Costs and Expenses and the prospects of the Insured successfully defending the Claim.

c. The costs of such legal counsel's opinion shall be regarded as part of the Costs and Expenses.

5. Claims Mitigation and Co-operation

a. The Insured shall exercise reasonable care and skill and do and concur in doing all things reasonably practicable to avoid or diminish any liability hereunder.

b. The Insured shall frankly and honestly disclose to THE INSURANCE COMPANY all relevant information and, in addition shall provide assistance to THE INSURANCE COMPANY, as it may require to enable it to effectively investigate and to defend or resolve any Claim under the Policy and/or to enable THE INSURANCE COMPANY to determine its liability under the Policy.

c. Other than Costs and Expenses incurred to enable THE INSURANCE COMPANY to determine its liability under the Policy, compliance with this Condition shall be at the Insured's own cost, unless otherwise agreed in writing by THE INSURANCE COMPANY.

6. Information / Documentation Required

Detailed below are some examples of documentation that is commonly requested by THE INSURANCE COMPANY. This list is not exhaustive and THE INSURANCE COMPANY may request specific items of documentation.

· Claim Form completed with details of loss or damage
· Letter of demand from the third party and all correspondences
· Official accident report (issued by the management)
· Reports of interview or Statements of witnesses
· Drawings to show the location and circumstances of accident
· Lease or other Contractual agreements
· Form, voucher or ticket
· Police report
· Statement of treating doctor (diagnosis)
· Invoices to substantiate the loss
· Picture of damage
· Etc

If you have any question regarding the above, or for claims consultation please contact:
Telp: +628128079130
Email: imusjab@qbe.co.id


by IMAM MUSJAB at http://www.ahliasuransi.com/


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Claim Procedure - Property

Claims Procedure for Property Insurance

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It is important to note that when the correct claim procedures are followed by an Insured, it can greatly assist in the smooth and prompt settlement of claim. When claim procedures are not adhered to it can cause delays in settlement and in some circumstances, could allow Insurers to deny the claim.

In particular, we will examine:
(a) How the incident should be reported to THE INSURANCE COMPANY
(b) What immediate action should be taken
(c) What information THE INSURANCE COMPANY will require you to provide to substantiate the claim

Please assure that you follow these procedures:


Reporting the Loss

1. Report the Incident to Claim Department of THE INSURANCE COMPANY immediately not later than 7 days.

Action to be Taken

2. Regardless of whether or not the incident has been reported or a loss adjuster appointed, you must immediately do whatever is necessary to prevent further loss of life or property damage. For example:

· Call the fire brigade, ambulance, police or other emergency services
· If during business hours – ensure the evacuation (if necessary) of all staff and neighbours
· If critical machinery fails – commence search for replacement plant/equipment or service
· Engage a security firm to protect the site (if required)
· Erect temporary protection over broken windows or roofing if possible to do so in safety
· Remove property which is exposed to further damage to a more secure location
· Remove vital business records if possible to do so in safety
· Take plenty photographs of the damage and of any salvageable equipment

The Claim Process

· THE INSURANCE COMPANY will normally appoint a Loss Adjuster to investigate the cause of the loss/damage and determine the settlement amount. Loss Adjuster is independent experts but their services are paid for by THE INSURANCE COMPANY. The Adjuster / THE INSURANCE COMPANY will visit the site at a convenient date and time with you. It is normal for the surveyor to take photographs and interview your personnel regarding the incident. Full cooperation must be extended to the Adjuster / THE INSURANCE COMPANY.

· It will speed up the process if you are able to prepare a chronology of accident/incident and obtain estimates of loss/quotations for repair from the suppliers/contractors and have these items ready for presentation to the Loss Adjuster / THE INSURANCE COMPANY when they visit.

· All requests for documentation will be made in writing, and the Loss Adjuster / THE INSURANCE COMPANY will provide guidance and explanations as required.

· You will be required to provide the documentation requested as soon as possible but if the claim settlement is proceed quickly you should endeavour to submit the documents no later than 15 days after the request is received. In the event that you are unable to provide any item requested by the Loss Adjuster / THE INSURANCE COMPANY you will need to provide a written explanation to THE INSURANCE COMPANY.

· Once received, the Loss Adjuster / THE INSURANCE COMPANY will check the information to ensure it is complete and that it matches what the Loss Adjuster / THE INSURANCE COMPANY has asked for.

· If all is in order, The Adjuster will study the documentation and will submit a report to THE INSURANCE COMPANY detailing the recommended settlement offer. THE INSURANCE COMPANY will advise you of the settlement offer and ask for your approval. This process would normally take about 15 days but if the claim is particularly large or complex this may take longer.

· Once the terms of the settlement offer has been discussed and agreed with you, THE INSURANCE COMPANY will prepare a Discharge Form which they will ask you to sign, prior to their transferring the claim monies within 7 days (on average).

Information / Documentation Required

Detailed below are some examples of documentation that is commonly requested by THE INSURANCE COMPANY. This list is not exhaustive and THE INSURANCE COMPANY may request specific items of documentation.

Buildings

· Drawings, Schematic Diagrams, Site Plans
· Contractors estimates for the repair, reconstruction, replacement of the damaged property on a like for like basis. These estimates need to be itemized to show both the cost of materials and labour costs.
· If you use your own inventory of materials you will need to provide THE INSURANCE COMPANY with invoices / requisitions etc to support this. If your own labour is used you will need to show this at cost plus any usual allowances.
· A reconstruction cost for the building may be required. Adjusters / THE INSURANCE COMPANY will usually need to check the value of the building(s) damaged to ensure that the sum insured is adequate.

Machinery

· Fixed asset list showing all machinery at the insured premise showing new market value (or original purchase cost if insured on indemnity basis). (The Loss Adjusters / THE INSURANCE COMPANY will require this to ensure the sum insured is adequate)
· Original purchase invoice for the machinery / equipment damaged (if available)
· Technical Reports detailing the cause of the loss / damage to the machinery
· If the machine can be repaired – a list of the parts required for repair, along with purchase invoices / quotation etc.
· Details of labour costs of repair work.
· Details of labour costs for installation work.
· Quotation for replacement of the machine / equipment if it cannot be repaired.

Stocks

· Stock records for the 6 months preceding the loss, showing income and outgoing stock
· Sales invoices for stocks for the 6 months preceding the loss
· Inventory of all stocks at the date of loss, detailing the type, make, model, quantity and pricing of each stock items
· Inventory of all stock actually lost or damaged – also detailing the make, model, quantity and pricing of each item lost/damaged
· Drawings to show the location of the stock in the insured premises at time of loss

If you have any question regarding the above, or for claims consultation please contact:

Telp: +628128079130

Email: imusjab@qbe.co.id

by IMAM MUSJAB at www.ahliasuransi.com



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Claim Procedure - Motor Vehicle

Claims Procedure – Motor Vehicle Insurance

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In case of any accident or theft on the motor vehicle or its spare parts or accessories. It is a duty of the Insured to immediately follow this procedure to have their claim settled smoothly.

1. CLAIM REPORTING

a. Claim on accident or theft shall be reported immediately to THE INSURANCE COMPANY not later than 3x24 hours after the accident or theft occurred.

b. Where accident happened outside Jakarta, please notify nearest THE INSURANCE COMPANY’s branch or representative.


2. REPAIR

a. Immediately drive your car to the nearest THE INSURANCE COMPANY’s approved workshop.

b. For accident happened outside Jakarta where there is no approved workshop available, you may drive your car to nearest workshop at your choice, but do not instruct to do repair prior obtaining THE INSURANCE COMPANY’s written approval. For this purpose please immediately send Quotation of repair for approval.

c. THE INSURANCE COMPANY shall be given an opportunity to survey or inspect the damage prior repair.

d. Complete necessary documentation, i.e.
- Claim Form
- Photocopy Client’s SIM & STNK
- Police Report (in case of theft)

3. THIRD PARTY LIABILITY CLAIM

3.1. Third Party’s Motor Vehicle

a. In case of accident involving Third party’s motor vehicle. Do not admit liability nor make statement to responsible without THE INSURANCE COMPANY.’s written approval.

b. Any demand received from Third party shall be copied to THE INSURANCE COMPANY firstly by facsimile and submit Police Report if consider necessary.

c. After reviewing the circumstances and all documentation, THE INSURANCE COMPANY may decide to admit liability and instruct to repair the vehicle.

d. THE INSURANCE COMPANY shall be given an opportunity to survey or inspect the damage prior repair.

e. Complete necessary documentation, i.e.
- Claim Form
- Photocopy Client’s SIM & STNK
- Photocopy Third Party’s SIM & STNK
- Letter of Demand
- Police Report
- Statement of no-insurance
- Quotation of repair

3.2 Third Party’s Bodily Injury or Property Damage (other than motor vehicle)

a. In case of accident involving Third party’s bodily injury or property damage (other than motor vehicle). Do not admit liability nor make statement to responsible without THE INSURANCE COMPANY.’s written approval.

b. Any demand received from Third party shall be copied to THE INSURANCE COMPANY firstly by facsimile and submit Police Report if consider necessary

c. After reviewing the circumstances and all documentation, THE INSURANCE COMPANY may decide to admit liability or not.

d. Furnish all original medical receipts including any costs and expenses to make good the property reasonably incurred and other documentation to THE INSURANCE COMPANY.

e. Make “Letter of Discharge” in which the third party discharge you for all claim and related claim associated therefrom.

4. TOTAL LOSS / THEFT CLAIMS

In case of Total Loss or Theft Claims, THE INSURANCE COMPANY may or may instruct other party (surveyors) to investigate and interview pertaining to the circumstances of loss.

Claim Documentation needed are:
- Claim Form
- Photocopy Client’s SIM & STNK
- Police Report
- Survey Report & interviews
- Letter of Demand
- Surat Blokir STNK*
- Surat Laporan Kaditserse*
- Original BPKBi
- Original STNK
- Original Invoice / Faktur

5. APPROVED WORKSHOPS

You should have a list of Approved Workshops of your insurance company, so you may choose one to where you should go in case of claim, at this workshop usually have a claims form available and a person to help you proceed with the claims

If you have any question regarding the above, or for claims consultation please contact:

Telp: +628128079130

Email: imusjab@qbe.co.id

by IMAM MUSJAB at www.ahliasuransi.com

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Claim Procedure - Marine Cargo

Marine Cargo Insurance Claims Procedure

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A. Duty of the Insured / Consignee / Its Agent or Representative

In case of any loss or damage to the cargo, it is a duty of the Insured / Consignee / Its Agent or Representative to take following procedures

1. Do no give clear receipt on the delivery order but to give such notice of loss or damage



2. In case of containerised cargo:
- Check carefully condition of the containers if it was damaged or holed.
- Check carefully condition of its seal if numbers is matched with the document or if it was damaged or cut.
- If it was found damage, Give such notice of loss or damage on the delivery order.

3. Immediately contact the carriers or its representative to do survey.

4. Immediately contact THE INSURANCE COMPANY to do joint - survey.

5. Immediately notify Police in case of traffic accident, theft or other malicious acts.

6. Take photographs showing details of container, its seal and numbers, its floor, wall and roof where it was damaged and condition of the cargo.

7. Write claim to the carriers holding them responsible for loss or damage.

B. Survey & Claim Reporting to THE INSURANCE COMPANY

Claim shall be reported immediately to THE INSURANCE COMPANY or Its survey agent in order to have the damage inspected to conclude the cause of loss or damage. Claim reporting shall not later than 7 days from the time loss or damage noticed.

It is a duty of the Insured to give THE INSURANCE COMPANY or Its survey agent an opportunity to inspect the damage, vessel, interview with the master and crews and other related parties.

C. Documentation

-Claim Form
-Original Insurance Certificate / Policy
-Original Bill of Lading
-Invoice
-Packing List
-Delivery Order
-Official damage / Survey Report
-Letter of claim against the carriers and their reply
-Estimated cost of repair
-EIR (Equipment Interchange Receipt)
-Ship accident report and complete of its document
-Police report (in case of theft or traffic accident)
-Picture of damage

D. Salvage

1. It is a duty of the Insured / Consignee / Its Agent or Representative to mitigate the loss and secure the salvageable cargo safe, do not destroy or sell them without THE INSURANCE COMPANY’s written approval.

2. THE INSURANCE COMPANY for and on behalf of the Insured have a right to sell on tender the salvageable cargo and invite some buyers to quote.

3. The Insured or Consignee can participate on the above tender.

4. Terms and condition of the tender and to choose the winner are absolute right of THE INSURANCE COMPANY

5. Value of salvage is to be paid to the Insured and is to be deducted from amount of claim payable.

E. General Average

In case of GA the Insured / Consignee / Its Agent or Representative is not authorized to sign Average Guarantee or to pay cash deposit without THE INSURANCE COMPANY’s written approval.

If you have any question regarding the above, or for claims consultation please contact:

Telp: +628128079130

Email: imusjab@qbe.co.id

by IMAM MUSJAB at http://www.ahliasuransi.com/



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Rating

Class 1 : Gross Premium exceeds 100 Billion Rupiah
Class 2 : Gross Premium 50 - 100 Billion Rupiah
Class 3 : Gross Premium less 50 Billion Rupiah

Rating A : Very Good (Sangat Bagus)
Rating B : Good (Bagus)
Rating C : Fair (Cukup)
Rating D : Poor (Kurang)


Disclaimer:
Rating provided here is purely subjective and given without prejudice
You are required to satisfy your self on the company performance if you would like to deal with the company. Gross premium is as per December 2007

If you have info to the contrary please submit info

Please see Directory


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Insurance School

Insurance Business School Trisakti (STMA)

Sekolah Tinggi Manajemen Risiko dan Asuransi (STIMRA)

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