Liability Insurance
Liability Insurance
Liability Insurance protects Assured against damage they caused to property or health of third parties.
    Sometimes caused damage may amount to a considerable sum and in the absence of insurance cover may lead to serious financial losses for a company. Whatever is the activity of the Assured, there is always a risk to cause damage to third parties.

    • Product liability insurance works when there is damage caused to third parties by a product manufactured
    • Employers Liability Insurance – covers liability imposed on an Employer in case of an employee is injured. Occupational disease may also be included into cover
    • Railway owners' liability. On the 27th January 2010 the law in respect of railway operation was endorsed to obligate companies that own rail tracks to have a liability policy. This policy covers liability for possible damage to property of third parties, including individuals, and environmental pollution.

    • General liability insurance. Under the terms of a policy the Insurer assumes an obligation ofthe Assured to compensate damage to health or property of the third party. In case of Professional Liability damages may result from business activity of the Assured
    • Obligatory Professional liability (bailiff, notary, auditors etc). Lawyers, notaries, auditors and other occupations may be more at risk, than other activities. That is why obligatory insurance for these occupations is stipulated by law.
    • Insurance for event organisers compensates personal or property damage to third parties while arranging a public event
    • Liability insurance of a lessee or tenant. In this case liability of tenant to lessee and vice versa. Policy covers damages to property and health, compensates medical treatment, drop in income due to temporary or complete disability, funeral expenses

    Freight Forwarder's Liability Insurance
    Freight Forwarder is an intermediary party between cargo owner and carrier. Claims for undelivered or damaged goods are brought by cargo owners against a freight forwarder. In many cases a freight forwarder is able to resubmit a claim to a carrier. If, however, the latter is responsible for damaging goods and does not have a valid CMR policy and have declared themselves bankrupt they can evade their liability to cargo owner and freight forwarder will be forced to bear responsibility.

    Freight Forwarder's Liability compensates losses to a cargo owner, third parties (for example, during loading / unloading), helps to cover possible expenses arisen from reloading, repacking and/or sorting (if necessary), customs charges, general average contribution and additional expenses for salvage of goods and their storage.

    If needed, the cover may also include gross negligence, errors & omissions (negligence, accidental errors made in issued documents and in choosing routes).

    Carrier's Liability Insurance
    Carrier's Liability Insurance works in case carrier is liable for losses or damages to cargo caused by unprofessional performance of obligations indicated in CMR* Convention. Limit of indemnity is determined by provisions of the Convention: not more than 8,33 SDR** per one kilogramme or 666 SDR per place. Limits of Liability may be indicated either in SDR or Euro.

    CMR policy may include following covers:
    • Damage, loss or disappearance of cargo
    • Financial claims to Assured – for example, in connection with delay in delivery or delivery to incorrect destination, repacking
    • Third Party Liability – damage or destruction of property of third parties by transported goods. According to this clause Assured is also protected against damages to containers occurred during transportation
    • Loss of freight, in connection with insured event, is compensated by Insurer, if Assured is not liable or released from an obligation
    • Legal expenses
    • Gross negligence
    Assureds that carry out transportations not only to the EU are to have an additional cover – TIR, i.e. liability to customs and guarantee of paying customs duties for transported goods in case they are gone.

    CMR policy is often required to join a professional association (for example, Association of Estonian International Road Carriers (ERAA))

    *"CMR" is an abbreviation of the French title of the convention, Convention relative au contrat de transport international de marchandises par route.
    **SDR or Special Drawing Rights is a synthetic currency created by the International Monetary Fund (IMF)

    Insurance of liability of operators of transport terminals
    This insurance product is designed for organizations located in the territory of the seaports; organizations marine pilots and operators vessel traffic services and Bank; from stevedoring companies and terminals; railway stations and repair depot, as well as other organizations providing services to the terminal operator, equipment repair services, services of receiving, handling, delivery and storage of cargo. Object of insurance is proprietary interests of the insured related with risk of liability for damage to life, health and property of third persons, as well as the natural environment in the implementation of the transport operator Terminal.

    Risks covered:
    • the operator's liability for the loss of transportation terminal, damage or loss of cargo,
    • liability of the operator of a vehicle terminal for the loss of or damage to property of third parties, including ships, cars, other vehicles, hydraulic structures, the rented material handling equipment or other property,
    • liability of the operator of transportation terminal, it is possible that the fault of sea pilots and operators vessel traffic services and Bank,
    • liability of the operator of transportation terminal in respect of an injury to the life or health of third parties, as well as in connection with the death of a third person as a result of the accident or incident,
    • responsibility for causing damage to the natural environment,
    • costs to investigate the incident,
    • costs and expenses for the protection of the interests of the policyholder in judicial and arbitral bodies.
    The cost of insurance depends on the selected risks, and limitations of liability.

    © 2023 Kominsur Insurance Broker Ltd.
    Kominsur Kindlustusmaakler OÜ
    +372 66 44 388

    Kominsur Kindlustusmaakler Latvijas Filiāle
    +371 67 582 203

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