Temporary storage warehouse and bonded warehouse keepers’ liability insurance
Articles 109 and 227 of the Customs Code prescribe the liability insurance to be included in the Register of Temporary Storage Warehouse and Bonded Warehouse Keepers. But this is not the only reason why you should buy an insurance policy. Should any claims be filed against you by any third parties (owners of property stored at the temporary storage warehouse or bonded warehouse) the policy will serve as the most reliable protection of your interests.
Our policy covers the following risks:
Product damage or destruction as a result of fire;
Product damage or destruction caused by water and water supply, sewage and heating systems in the event of breakdown and fire extinction systems;
Mechanic damage to product during its loading and unloading or product placement in the warehousing facilities;
Product damage or destruction as a result of third parties’ malicious acts.
The insurance compensation includes:
Actual damage to the stored property in the amount of the actual cost of the damaged or destroyed property;
Essential and reasonable expenses associated with the preliminary establishment of insurance events’ circumstances and the extent of the Insured person’s guilt, as well as extrajudicial protection of the Insured person’s interests in the event of such claims being filed against him including expenses for experts’ services;
Costs associated with the court and legal proceedings on the presumptive insurance events, including lawyer’s fees.
Insurance terms:
Ingosstrakh Insurance Company represents your interests throughout the claim examination process. Legal defense can be provided either by Ingosstrakh lawyers or independent lawyers, whose services are also paid by Ingosstrakh.
The Customs Code prescribes for the sum insured to be determined based on the usable area or warehouse volume in accordance with the below standards:
For open areas – 3 500 rubles per 1 sq.m. of usable area;
For covered areas – 1 000 rubles per 1 m3 of usable area.
The sum insured shall not be less than 2 million rubles.
The insurance premium amounts to 0.3% - 1.5% of the sum insured and depends on such factors as type of goods in storage, maximum warehouse capacity, the average cost of goods in storage, number of employees, etc.
Our Contacts
If you have any questions or need additional information, please contact:
Financial and professional risks insurance department
