About World Insurance

RISK?  What risk?  I’m a freight forwarder!
“A shipment was released without the original bill of lading and now we’re being sued for $198,000. This could put us out of business!”

“My client had to pay US Customs fines and penalties of $293,000 and claim that our negligence is to blame, now they’re demanding we reimburse them.”

Supply chain complexity, increased regulations, and growing shipper expectations have increased the likelihood of claims against customs brokers, freight forwarders, and everyone in the supply chain for mistakes, errors, and more.  Whether the allegations are frivolous or not, the legal cost of defending those claims can be financially crippling.

Freight Liability and Errors & Omissions insurance are among the most important protections for your business.
Here are the most common types of claims:

Examples of Errors & Omissions Claims

  • Delay caused by negligence
  • Failure to follow instructions
  • Mistakes in preparation of documents
  • Improper Release without Original Bill of Lading
  • Fines & Penalties
  • Failure to properly or promptly clear goods
  • Incorrect import product classification
  • Negligent selection of a carrier or third party
  • Not providing or offering proper cargo insurance

On top of all that, failure to properly insure CARGO using appropriate CARGO insurance can result in disastrous consequences for your client and you.

Examples of Cargo Liability Claims

  • Cargo damage of all kinds while moving under your house bills of lading
  • Loss or damage to cargo while at your warehouse or agents warehouse
  • Demurrage on cargo uncollected at destination
  • General Average
  • Consequential Loss
  • Duty
  • Temporary Storage Extension
  • Accidental Delay in Delivery
  • Warehouse Legal Liability

Today, freight forwarders, customs brokers, and logistics providers are being asked to work harder and take on more risk for ever shrinking returns.
It is our core mission to help relieve some of that risk by creating an experience that makes the lives of our customers easier and more profitable. With our innovative services, advanced technology, competitively priced products, training & consulting and attentive service from a team of experienced risk advisors, you can minimize the chance of suffering a catastrophic business loss.