Welcome to LMBF Assurances
Whether your goods are transported by land, rail, or sea, or across international borders, your business relies on their safe delivery. Our economy is increasingly dependent on international trade, but the risk of damage and the increasing frequency of cargo theft in transit are also on the rise. Businesses are beginning to realize the consequences of a failed delivery, not only on their finances, but also on their business reputation and customer relationships. The solution lies in cargo and cargo insurance. LMBF cargo insurance programs are designed to provide your delivery or transportation business with the comprehensive coverage it needs to protect its bottom line against common risks and vulnerabilities.
Cargo insurance is a commercial insurance policy designed to protect carriers from damage to goods in transit. This policy is suitable for importers and exporters, traders, wholesalers, manufacturers, etc. Some policies may include coverage for damages or losses that occur during purely domestic transit movements, during storage or warehousing, during an exhibition, etc.
Your cargo insurance may include coverage for unexpected delays. If late deliveries result in liability claims, your cargo insurance may include coverage for court costs and settlements granted.
If a customer believes that your company's actions have resulted in the loss or damage of goods in transit, you may be at risk of being sued. Your cargo liability insurance may include coverage for the resulting lawsuit costs.
Cargo insurance protects your business against potential financial setbacks that result from damage or loss of a shipment. Your cargo insurance may include coverage for goods while in transport, whether by plane, boat, or truck, and during unloading/loading.
Coverage that can extend from the point of departure (warehouse) to the point of arrival (warehouse), if provided in the contract.
It covers loss or damage to goods during sea transport, according to conditions (all risks or named perils).
Importers, exporters, manufacturers and distributors who ship goods whose value exceeds the limited liability of carriers.
Types of goods, values, packaging, routes, frequency, ports, combined modes of transport and loss history.
Inadequate packaging, inherent vice, delays, failure to comply with handling conditions, and certain goods/regions, depending on the policy.
They determine when risk passes from seller to buyer and who must insure the goods.
