Errors & Omissions Insurance
To whom is it directed?
Companies offering freight forwarding services by land, air and sea, such as:
- Freight forwarders
- Customs brokers
- Line carriers
- Men truck (Trucking companies?)
- Railroad lines
- Air cargo lines
- Port terminals & warehouses
What is covered?
- Liability for loss or damage to cargo
- Liability arising from errors and omissions
- Liability to third parties
- Fines for violation of regulations, e.g. customs and warehousing
- Legal costs: including those generated by wrongful delivery, investigation, defense, destruction and abatement
Benefits:
- Breadth of risks covered
- Minimizes the need to contract separate coverage policies
- A single package that can be adapted to specific needs
- Reduces coverage gaps
- Eliminates duplicity of policies
- The errors and omissions policy will be issued by a Mexican insurer
