IATA Air Waybill Changes Prompt Urgent Insurance Review for Freight Forwarders
As of June 1st, a significant change to IATA's Direct Air Waybill (AWB) rules is now in effect. The new regulation removes the mandatory requirement for freight forwarders to issue their own house AWB on direct shipments. While intended to streamline processes, this alters the forwarder's contractual liability. Their exposure is now governed by the IATA AWB's conditions of contract, potentially increasing their risk. Consequently, insurance experts are strongly urging freight forwarders to immediately review their liability policies to ensure they remain adequately covered.
Official Source: https://aircargoweek.com/freight-forwarders-encouraged-to-review-insurance-as-iata-direct-air-waybill-changes-take-effect/
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