Insurance of risks associated with the foreign economic activity

Any type of a company’s activity is associated with certain risks which are related to a variety of conditions and factors and make an impact upon successful outputs of the decisions made. As the historical experience proves, the risk of a deficit of intended outcomes (for the most of enterprises it is a financial result of their economical activity, namely a profit) appeared when commodity money relations and competition became a common practice in ancient societies. That is why, the analysis and forecasting of potential risks in the activity of enterprises should be paid special attention. Negligence or lack of assessment of risks may cause weakening of the company’s positions in a certain niche of the economical activity and the deficit of an expected profit.

Insurance of a business is one of the efficient ways «to ring fence from the risks».

Expert&Consulting Group «UKRCUSTSERVICE» is ready to offer You mediation services on insurance of the risks associated with the foreign economic activities.

Insurance of customs clearance of freights.

Insured perils (risks) are the following:

  • changes made by a Customs Authority to a code under the UCC FEA declared by the FEA participant, which caused increasing of a sum of mandatory customs duties;
  • corrections made by a Customs Authority to a customs value declared by the FEA participant, which caused increasing of a sum of mandatory customs duties.

Insurance of freights (during transportation of freights/goods).

Insured perils are the following:

  • a fire;
  • an explosion;
  • an accident;
  • misconduct of third parties (theft, robbery, plundering).

Insurance of a forwarding agent’s responsibility.

Insured perils are the following:

  • incurrence of liability of an Insurer to a freight owner, for a loss and/or damage of the freight accepted for forwarding;
  • incurrence of liability of an Insurer for financial losses, inccured by a Client of the Insurer due to the Insurer’s non-fulfillment either partially or totally of its contract commitments;
  • incurrence of liability of an Insurer to the third part in case of bringing damage to freight during carrying out professional duties by the Insurer in accordance with the freight forwarding contract.

Insurance of a cargo carrier’s responsibility.

Insured perils are the following:

  • a loss or a damage of the freight including costs for resquing, mitigation of the damage and clarification of the damage size;
  • financial losses of a person eligible under the freight forwarding contract;
  • infliction of injury by the freight, to the life, health and/or property of the third party.

Insurance of a warehouse operator’s responsibility.

Insurable events are those associated with inccurence of the responsibility of an Insurer:

  • for a loss or a damage of the freight accepted for the warehouse service;
  • to the third party for an injury inflicted to the life, health and/or property of the third party by the freight accepted for the warehouse service.

Insurance of an insurance broker’s responsibility.

Insured risk is bringing damage to the third party due to professional errors and omissions of the Insurer.

Insured perils are the following:

  • losses (destruction), shortage or damage of goods and means of transport owned by the third party;
  • incorrect and untimely charging of customs fees;
  • nonobservance of terms and restrictions on using and disposal of goods and means of transport which have not been completely cleared by the customs under the regime chosen, before their release or transfer to a representative of the third party.