Cargo agent companies have an important role in international trade, as they are responsible for most of the freights negotiated around the world. Cargo agents, also known as Freight Forwarders, provide several services such as: hiring of freight services for exporters and importers, warehousing and distribution of merchandise, cargo consolidation, consulting on tax and customs matters, as well as placement of insurance, and other logistics services. 

As freight forwarders have so many tasks, they also have a vast number of responsibilities. Freight forwarders are accountable for errors, omissions, delays, negligence, imprudence, breach of contract, and eventual incidents during cargo transportation.        

Additionally, freight forwarders are more exposed to fines, compensation lawsuits and indemnity claims from clients and companies seeking reparation for financial losses caused by services for which they were contracted, differently to importers and exporters. Also, freight forwarders can be sued by the Federal Revenue Services, Customs, and government bodies.

In view of this vast array of responsibilities, cargo agents need to protect themselves from adversities in order to safely perform their work. Liability insurance specifically tailored to a freight forwarder’s profile is the best choice to   insure against all the risks arising from this exercise.    

Liability insurance for freight forwarders is also a differential that allows companies to stay ahead of competitive markets and demanding customers, as it promotes greater credibility and peace of mind. 

Get a quote for freight forwarders liability insurance now from CredRisk Marine!