9.Supplementary Readings(1 / 3)

Insuranbsp;should be viewed as part of the total rate and rvibsp;package that the carrier(or forwarder)offers,so don’t treat insuranbsp;in isolation.Even though a carrier may have an impeccable record,there is always an element of risk and exporters should protebsp;themlves against this risk.

Moreover,insuranbsp;ce is part of a carrier’s marketing strategy.It is more than likely that cost,ce and the number of loss and damage claims will vary from carrier to carrier,so ask veral and pare ask the carrier,whether it is a rail,motor,marine or intermodal carrier,what it charges for insurance,what the insuranbsp;covers,the deductible(if any)and how claims are handled.

This suggests that the first step in insuranbsp;le is to ask the carrier about its loss and damage record.Ask other exporters or,if you are a member of an anization subsp;as the adian Industrial Transportation Association,ask if it has any record on a particular carrier.

Before exp,make clear that the terms of sale specify who is responsible for arranging insurance.For example,an exporter lling “CIF.” will be responsible for arranging and paying for freight insuran many transas,it is on for adian exporters,even tho lling “FOB” or “FAS”,to trol or arrange for marine insurance.

Insuranbsp;should be viewed as part of the total rate and rvibsp;package that the carrier(or forwarder)offers,so don’t treat insuranbsp;in isolation.Even though a carrier may have an impeccable record,there is always an element of risk and exporters should protebsp;themlves against this risk.