Airforwarders Association - FORWARD Magazine, Spring 2019

AfA Special Features 36 Forward Magazine Q Spring 2019 Airforwarders Association By Zoi Fanourgiakis Account Manager Roanoke Trade As your customer’s primary resource in trade facilitation, your focus is to hone your expertise and provide the best information and service possible. Finding time to focus on general business concerns can sometimes take a back seat to business growth and client retention. Just as your goal is to simplify the complications with your clients, you want the same assistance from your insurance provider. Liability is a multi-faceted risk category, and the insurance that protects your exposures will often have a multi-coverage solution. The foundation of most insurance programs, however, begins with General Liability (GL) coverage. You may think the only reason you need a GL policy is to satisfy your landlord or vendor’s requirements, and you may have purchased coverage for this purpose. However, GL is so much more than a checked box. It is a policy designed to protect your business against claims from bodily injury or property damage sustained by a third party as a result of your business operation. In addition to bodily injury and property damage your GL policy also provides coverage for: Personal and Advertising Injury Liability – This responds to any lawsuit that is alleging that you are responsible for Personal Injury arising out of the advertising of your products or services. An example of covered offenses are libel, slander, invasion of privacy, copyright infringement and misappropriation of advertising ideas. Medical Payments – Responds to non-litigious medical claims for bodily injury which occur in the normal course of business. In plain terms, this could act as the “please don’t sue me coverage”, where medical payments will be paid by the policy to avoid a lawsuit. GL, and specifically medical payments, do not extend to employee injury claims as this risk is covered under Worker’s Compensation. Products and Completed Operations – Responds to lawsuits for bodily injury or property damage that is derived from your “products” or “completed operations.” Although transportation and logistics companies don’t typically sell tangible products, those providing packing, crating, assembly, and pick and pack services may have a risk. Both bodily injury and property damage claims can arise while employees are performing your services, or as a result of your professional service mistakes or failures. Wh y L og i s t i c s S e r v i c e P r o v i d e r s Ne e d Ge n e r a l L i a b i l i t y I n s u r a n c e