Freight forwarders and other transport intermediaries face increasingly significant liability risk, particularly in emerging markets, as they tackle additional supply chain services for their customers, warns international transport liability insurer TT Club.
Manufacturers, retailers and other users of transport and logistics services are expecting their suppliers to undertake new complex risks as they outsource more of their sub-assembly, inventory handling and distribution processes, TT Club notes in a press release.
“Those traditional freight forwarders who have in the recent past seen the opportunity to expand their service role by offering extended warehousing, packaging, delivery fulfillment and even purchasing functions for many shippers are not always fully aware of the liabilities for cargo loss and third-party damages that these additional tasks are opening them up to,” said Andrew Kemp, TT Club’s European regional director. Read more here.
