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INSURANCE

INSURANCE

We subscribe to and renew from time to time various insurance policies, including MTO, Freight Forwarder, CFS and Haulage Services policies. Our insurance policies cover, among other things, claims arising out of physical loss or damage to cargo, vessel or equipment owned or operated by sub-contractors or customers and incorrect or wrongful delivery of cargo or delay in handling cargo.

Insurance cover is critical to our business, particularly in our MTO operations where we issue multimodal transport documents or bills of lading. Although we believe our aggregate insurance limits are sufficient to cover reasonably expected claims, it is possible that one or more claims could exceed those limits.

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