FORWARDERS are taking on too much risk in the contracts
they routinely sign, warns TT Club's Europe-Mideast-Africa manager Andrew Kemp.
Writing in London's Containerisation International, the
maritime insurance executive said forwarders are clearly accepting an ever
growing exposure to risks of which they may not be aware.
"These non-negotiable contracts are frequently
generic, tend to be non-specific and sometimes considerable imagination is
needed to relate them to logistics and supply chain risks," he said.
What he recommends is to transform the contract's
theoretical provisions into practical implications.
"Underwriters can then make a judgment as to the
risk's insurability, which will depend on a full risk assessment, covering what
is known about the companies involved, including sub contractors," said Mr
Kemp.
"One challenge is that contracts being promoted by
cargo owners are usually fait accompli, offering little if any leeway to the
unsuspected forwarder," he said.
What forwarders are asked to sign may be based on
no-fault liability and lack typical carriage liability limitations or defences.
"This may be inconsistent with or may derogate from,
international conventions or locally applied law," said Mr Kemp.
Source : HKSG.
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