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Freight Forwarder/Cargo Liability Insurance, E&O, & Shipper’s Interest Insurance — everything you need to set up and operate your NVOCC or OFF.
If you’re setting up or running a Non-Vessel Operating Common Carrier (NVOCC) or Ocean Freight Forwarder (OFF), insurance is a must. We offer the following types of insurance specific to your needs:
For more information about what each of these types of insurance is for and how they function, see “Additional Info” below.
It’s not uncommon for an NVOCC or OFF to take on tens of millions of dollars in liabilities at any given time, so it’s critical to get the right coverage from a broker that understands your unique business. DB Schenker has over 140 years‘ trade experience. We offer the best ‘top to bottom’ insurance from A+ providers, at the best price. We even help you customize your policy with any necessary clauses specific to your business. When it comes to insuring your NVOCC or OFF, we make it easy!
Besides insurance, we provide bonds and NVOCC/OFF consulting services. We can help you set up, register, and license your NVOCC or OFF.
Get started — request an NVOCC/OFF insurance quote today!
Freight Forwarder Liability Insurance and Cargo Liability Insurance protect Freight Forwarders and NVOCCs from claims due to lost or damaged cargo. Our liability policies are written specific to your Terms and Conditions (T&Cs), giving you the peace-of-mind that you are properly covered. For example, if the carrier you hire damages or loses your client’s cargo, its liability to you may not cover your liability to your client (most carriers’ T&Cs limit their liability to a low flat rate according to the weight of the goods). But with the right liability policy in place, you are covered — no matter what. Additionally, liability insurance protects you from out-of-pocket legal defense fees should your firm get sued (i.e. for damages in excess of your T&Cs).
Errors & Omissions or E&O insurance is a type of professional liability insurance that protects your firm, employees, and other associates, against claims of inadequate work or negligent actions. For example, it protects you against claims due to paperwork typos or other mistakes that might result in Customs delays, a shipment getting sent to the wrong port, or worse!
Shipper’s Interest Insurance is a great add-on you can offer to your clients. This optional insurance covers your clients in the event that their losses exceed your liability, as defined in your T&Cs, up to the full value of their cargo (subject to certain basic exclusions).