All types of goods shipped, regardless of the method used, are exposed to risk of loss and damage, which may be due to many causes, including:

• acts of God
• accidents involving the freight vehicle
• damage to containers in which goods are stored
• malicious acts by third parties
• other

Freight Company Liability

Article 10 of Italian Legislative Decree no. 286 (which amends Article 1696 of the Italian Civil Code) sets at 1.00 euro per kilogram the limit of liability for goods lost or damaged during freight within Italy.
For international freight, the accounting currency is SDR, coordinated by the International Monetary Fund, and the relative value is determined by a basket of national currencies.

• Road freight: the maximum compensation limit of 8.33 SDR per kilogram of lost or damaged goods, set by the CMR Convention, still applies.
• Air freight: The Montreal Convention sets the limit of freight company liability at 19 SDR per kilogram of lost or damaged goods.
• Maritime freight: the compensation payable by the freight company is 2 SDR per kg or 666.67 SDR for "packages" or "units". The injured party is free to choose between these two options.
• Rail freight: compensation payable is 16.66 SD per kg, compliant with the COTIF/CIM agreement.

It is understood that this coverage applies only where the freight company’s liability has been proven, thus excluding all cases of force majeure such as armed robbery, extreme weather, etc.

Insurable value

The insurable value is determined by value at time and place of loading (which can generally be demonstrated by the value of the original invoice), plus freight costs (hire, auxiliary expenses, insurance, customs, etc.), and 10% of "expected profit", in other words the profit the business expects to make from the use of the goods being carried.

Value-based insurance cover

The carrier/freight company can cover liabilities resulting from loss or damage caused to freight by drafting policies in the name and on behalf of an assignee.
These insurance policies cover the insurable value, bypassing the minor liabilities borne by the freight company and providing goods owners with greater peace of mind with regard to the risks associated with freight.
If goods received show signs of damage, the assignee must put in place all necessary actions and take all necessary measures to prevent and limit damage, defending against any recourse brought by insurers against liable third parties.
Accurate and detailed reserves must be presented in receipt of goods documentation, and the intervention of an averages and/or loss adjuster appointed by the insurers must be requested. The damaged goods must not be made available unless authorisation is received from the insurer.
In the event of goods showing visible damage, reserves should be voiced to the freight company immediately upon receipt.
In the case of hidden damage, reserves should be voiced within seven days for international road or rail freight, eight days for road freight within Italy, and 14 days for international air or sea freight.
In all circumstances, reserves should be voiced promptly in order to have maximum effect.

Given the above, we always recommend thorough and in-depth assessment of the insurance services offered by Sebi, which guarantee peace of mind for a minimal investment.