Turkey: Carrier liability insurance made mandatory for freight forwarders
Source: Middle East Insurance Review | Sep 2018
The authorities have gazetted a regulation that among other provisions makes it mandatory for freight forwarders and other logistics companies to purchase carrier liability insurance.
The regulation on Transport Business Organisations was published in the Official Gazette in early July, reported Insurance Gazette.
This regulation covers all transport business organisers operating road, rail, sea or air transport or combined transport.
A transport business organiser is an entity engaged in the organisation of shipping business; shipping, customs, storage, etc. In the field of freight forwarding, in accordance with the relevant legislation, the activities include transportation, storage, packaging, labelling, order management, customs, insurance and distribution.
According to the new regulation, those who fail to buy carrier liability insurance will be fined. M