Solving those Pesky Third-Party Problems

Any business is precious business, especially during these tumultuous times, and being covered for any eventuality, no matter how unlikely, is increasingly important to transport specialists.  Honan and Chubb have developed the Multimodal Freight Liability Insurance with modern companies in mind – companies with many moving parts, a variety of clients and a range of staff serving customers all over the world. 

One such Singapore-based company, ZALT Pte Ltd, managed by Jeffery Foo found out just how valuable a comprehensive insurance plan can be in early 2020. With sales and shipping tailing off, a large shipment of steel pipes to Japan was secured, offering a solid job for Mr Foo and his team. Mr Foo’s regular and usually trustworthy lashing contractor was employed and no issues were reported. However, due to an unanticipated amount of movements during bad weather at sea, the lashing work failed, meaning damages to the container and adjacent containers too (not to mention the pipes themselves). The extra time taken to unload and eventually remove the damaged containers was claimed by the ship owner, alongside the costs of the damage itself and a long delay in port.

Nothing had prepared Mr Foo for such a sizeable and unexpected invoice, but Honan and Chubb’s Multimodal Freight Liability Insurance is prepared for anything and everything. Costs for any negligence to a third-party, including:

- Accidental bodily injury

- Accidental property loss or damage

- Consequential loss arising from accidental bodily injury or

- Property loss/damage

can easily be claimed back, on a sliding scale of coverage from Bronze to Platinum packages. More information on any terms and conditions that need to be covered is found HERE.

Never be caught out by the unexpected again.