Insurance Market on Alert as IATA Shifts Air Waybill Liability to Forwarders
The global insurance market is bracing for the impact of a significant liability shift within the air cargo sector. The International Air Transport Association (IATA) is amending its rules, specifically transferring the liability for incorrect data in Digital Air Waybills (DAWB) from airlines to freight forwarders. This change, part of the revised Resolution 600b, exposes forwarders to substantial new financial risks previously borne by carriers. Insurance experts are warning that many existing liability policies may not cover this new exposure. Forwarders are now being urged to urgently review their insurance coverage to avoid potentially catastrophic uninsured claims resulting from data errors.
Official Source: https://theloadstar.com/insurance-market-braces-for-iata-dawb-liability-changes-fallout/
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