This insurance covers Insured’s liability in its capacity as a carrier of goods by road abroad in compliance with the Convention on the Contract for the International Carriage of Goods by Road (CMR Convention) in respect of claims for total or partial loss or damage to the goods, arising in the course of the transportation.
The risks covered and the limits of liability during international carriage by road are in compliance with the CMR Convention and the General Conditions of the Insurer.
OZK Insurance covers the expenses, which are reasonably incurred for prevention and minimization of damages and establishment of the amount of any loss or damage subject to indemnity. Such expenses shall include salvage of goods in transit, transshipment, warehousing, extra expenses for transportation to the initial destination etc. Freight, customs duties and other transportation expenses shall be covered either in full in case of total loss or proportionally in case of partial damage.
Only exceptionally, OZK Insurance offers Carrier`s Liability Insurance within the territory of Republic of Bulgaria. The limit of indemnity is subject to an agreement.
This insurance is concluded usually as an open cover policy for a year. The insurance covers all conveyances by motor vehicles owned by the insured carrier within the term of the contract.
The Insurer issues an Insurance Certificate in English, which serves the carrier to prove the existence of such insurance for every transport.