KASE Insurance Diamond Sponsor for CIFFA 2023

Insurance Support for Canadian International Freight Forwarders

kase
Mar 8 2023

The movement of goods between countries shows just how connected we are to each other. It also shows why freight forwarders are so essential; they help transport goods worldwide by sea, air, rail, or highway.

Acting as intermediaries between shippers and carriers, a freight forwarder’s responsibilities include:

  • Negotiating rates with carriers and other service providers;
  • Arranging the pick-up and delivery of goods;
  • Preparing and processing documentation, such as bills of lading, customs documents, and insurance certificates;
  • Advising shippers on the best shipping methods, routes, and modes of transportation;
  • Tracking the movement of goods and providing updates to shippers;
  • Handling any issues or delays that arise during transit; and
  • Ensuring compliance with local and international regulations governing the transportation of goods.

Ultimately, a freight forwarder is a logistics expert who helps to ensure that goods are transported safely, efficiently, and in a cost-effective manner.

Like with any other career, you need connections and a network of support to stay updated on industry news and gain more clients. Freight forwarders who are a part of the Canadian International Freight Forwarders Association (or CIFFA) enjoy these benefits.

Keep reading to learn more about the importance of CIFFA and the support that KASE Insurance provides for its members as a Diamond Sponsor.

 A forwarding agent organizing cargo

CIFFA’s Role in Freight Forwarding

The Canadian International Freight Forwarders Association provides numerous benefits to its members. From offering support for their members through industry insight to advocating for their rights, this association can help members elevate their reputation as forwarding agents.

Founded in 1948 in Montreal, this association of forwarders started because a small group of contractors saw the need to create an industry association to meet the professional demands of the industry. Their principles of supporting and protecting the industry and its workers with standard trade practices and rules for proper arbitration between members still stand today. And as a member of CIFFA, you get to receive the same treatment from the association.

CIFFA also offers courses to give its members a leg up in their careers. According to the association, they offer beginner to expert-level courses that more than 260 logistics employers would be impressed to see on resumes. But as great as this sounds, being in the freight forwarding industry doesn’t come without its perils.

KASE Insurance Offers Customizable Support for Freight Forwarders

A career in freight forwarding is exciting, but it can also be quite dangerous. As forwarding agents, you must be prepared for the many scenarios or catastrophes that could befall the vessel of transportation while journeying internationally.

An insurance policy helps mitigate these risks from depleting your finances and could prevent you from going into bankruptcy. Comprehensive coverage will also help pay for damages to your goods while they are in transit.

Having the support of an association that can widen your network and be a great resource for industry updates can truly help you propel your business forward. But at the same time, any member of CIFFA must also be protected from financial worry by creating a risk-management strategy.

As you move forward in your career and expand your business, you must be aware of the risks and hazards associated with cargo shipping and freight forwarding. This is the first step to mitigating perils while on the job and securing your finances early on in your career. Having risk-management strategies in place will give you the peace of mind to continue working as a freight forwarder and stay ahead of the curve.

There are a number of scenarios that you could face while travelling long distances. An insurance policy that caters to the very demanding and high-risk industry you’re in will ease your worries and protect your business from financial liabilities.

This brings us to our next point…

Insurance Policies for CIFFA Members

Freight forwarder insurance is a specialized insurance policy that’s specifically aimed to protect forwarding agents from legal costs as a result of accidental damages or losses to the cargo while in transit or until the time it gets to its destination.
A shipping port full of containers

What Does Freight Forwarder Insurance Cover?

Freight insurance can protect businesses against the following:

  • Damages resulting from physical or external damage. This can also be partial or total damage to your goods while in transit. Damages are typically considered the highest possible risk in this type of insurance policy.
  • Total loss of the shipment due to an accident or an “Act of God” is protected under freight insurance. However, do note that this does not include coverage for partial loss of goods.
  • Theft is also another instance that’s covered under freight insurance policies. This applies to instances when your goods are stolen during transportation from one area to another.

Of course, your policy limits will still depend on your business’s individual needs. But that’s what KASE Insurance is here for. As the leading commercial brokerage in Toronto, we can provide you with a specialized policy that you can always rely on.

Why Do You Need It?

There’s no telling what will happen while you’re in transit. Travelling across the ocean is already risky—even more so when you’re carrying thousands upon thousands of valuables that need to be delivered to your clients safely. Insurance policies, such as freight forwarder insurance, are specially designed for you, the forwarding agent, so you don’t have to worry about the legal costs and replacements of cargo should an unfortunate event arise.

When CIFFA members purchase an insurance plan, it helps to lessen the financial burden on their shoulders.

Why Choose KASE Insurance?

For years, we’ve been a trusted partner for a wide range of businesses and service providers across the GTA—from independent contractors to companies whose revenues exceed millions.

Our award-winning team of experts offers customer-centric insurance solutions and technical advice to our clients. In this way, we ensure that you will get the best possible policy tailored to your business’s needs with no unnecessary or hidden costs.

As Diamond Sponsors of CIFFA, we understand the specific insurance solutions required by world-class freight forwarders like those that are members of the Canadian International Freight Forwarders Association.

We look forward to being your trusted partner when it comes to your insurance needs. Get in touch with us today to get started!

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