CARM: What all importers need to know about CARM

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The perils of being underinsured

Make sure you read the fine print before purchasing insurance abroad for freight shipments.  A
common mistake is to assume that minimum insurance gives you some degree of protection against all
perils when, in fact, it actually excludes many perils.  Protect your business interests by ensuring you
buy a policy that gives you protection against all perils.

     Ivy Woo, Manager – Customs Consulting Services

Ivy Woo, Manager – Customs Consulting Services

Quick Tip #36
Report Lost and Damaged Cargo to your Forwarder, Carrier and Insurer as soon as possible

Any loss or damage to cargo should be reported immediately to the company or the company’s nearest settling agent.

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