International Risk Placement, Inc. 1821 Walden Office Square, Suite 210 Schaumburg, IL 60173-4268 US
Contingent Cargo Liability coverage provides investigation, indemnity and defense to a truck broker for third party claims. An example of where coverage applies will be a case which the truck broker relies on the validity of a certificate of insurance received from the trucker and which turns out to be bogus. A claim ensues and the truck broker is brought into a claim resulting in a suit. The Contingent Cargo Liability policy will provide investigation, indemnity, and defense for a covered claim.
Our program provides the truck broker with limits of:
a) $100,000 any one loss subject to a $1,000 deductible
b) $250, 000 any one loss subject to a $1,000 deductible
c) $500,000 any one loss subject to a $1,000 deductible
d) $100,000 any one loss subject to a $1,000 deductible each and every loss except in respect of
Refrigeration Breakdown claims wherein the deductible is $2,500 any one loss.
e) $250,000 any one loss subject to a $1,000 deductible each and every loss except in respect of
Refrigeration Breakdown claims wherein the deductible is $2,500 any one loss.
f) $500,000 any one loss subject to a $1,000 deductible each and every loss except in respect of
Refrigeration Breakdown claims wherein the deductible is $2,500 any one loss.
The Contingent Cargo Liability program has to be written in conjunction with the Contingent Automobile Liability programs for those accounts with an annual revenue exceeding $5,000,000.
Cont Auto, Cont Cargo, GL, BC, PL and S&P Buyback App (pdf)
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