Maximum customer values by location
Review this carefully when evaluating the insurance program and preparing a submission.
Warehouse Legal Liability Insurance
A warehouse operator’s own property policy and its responsibility for a customer’s goods are different questions. Warehouse legal liability is designed around liability for property of others in the operator’s care.
What to Think About
The policy should match how the business actually operates.
Coverage needs depend on the products, contracts, property values, transportation arrangements and services involved. These are some of the issues worth reviewing.
Customer goodsIdentify how much customer property can be at one location at one time.
Warehouse receiptsContracts and warehouse receipts can define or limit responsibility.
Handling damageForklift collisions, loading mistakes and improper storage can lead to customer claims.
Catastrophe lossesA fire or water loss can involve property belonging to dozens of different customers.
Submission Checklist
Information that helps tell the story to underwriters.
Better information can help carriers understand the risk instead of making assumptions from a class code alone.
Storage agreements and warehouse receipts
Review this carefully when evaluating the insurance program and preparing a submission.
Temperature or special-storage requirements
Review this carefully when evaluating the insurance program and preparing a submission.
Claims procedures and contractual limitations
Review this carefully when evaluating the insurance program and preparing a submission.
Related Distribution Topics
One exposure rarely stands alone.
Property, products, transit, customer goods and business income often overlap in a wholesale or distribution account.
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