承运人责任保险条款.docVIP

WHAT THIS POLICY COVERS Unless modified or specifically excluded by endorsement(s) to this Policy, we will pay amounts you and other protected persons are required by law to pay in damages to compensate others for: physical loss or damage to customers cargo arising out of the issuance of your air, ocean or surface bill of lading when conducting your business as a forwarder or consolidator (principal); or financial loss resulting from your negligence committed in conducting your business as a Transportation Specialist. The physical loss or damage must be caused by an accident. An accident means an unforeseen occurrence and includes repeated exposure to similar conditions. The financial loss must be caused by an act, error or omission that is the direct and proximate cause of the loss complained of. This insurance applies only to physical loss or damage to customers cargo from accidents and/or financial loss caused by acts, errors or omissions which occur: within the coverage territory and after the Retroactive Date specified in the Schedule and where the claim(s) or loss notification is/are first made against you or other protected persons during the policy period. The amount we will pay is shown in the Schedule of this Policy, less the applicable deductible and the following claims expenses. CLAIMS EXPENSES We agree to pay reasonable costs and expenses, including attorneys fees, that you incur with our prior written approval. We will not pay any expenses, including attorneys fees, costs, and other charges you may incur unless we authorise them in advance and in writing. Payment for claims expenses is provided under this policy, but our obligation to pay ends after the applicable limit of coverage has been used up by the total amount paid for judgments, settlements, and/or the following claims expenses: 1. Defending Lawsuits We will defend a suit for a covered claim even if the suit is groundless or fraudulent. We have the right to adjust, investig