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Warehouse Legal Liability Insurance

Warehouse Legal Liability insurance provides specialized coverage for the insurable exposures of public and commercial distribution warehouses and logistics companies.

Benefits:

  • Comprehensive coverage in one complete package:
    • One entry point
    • One application
    • One premium bill
    • One attachment date
  • Critical coverage across multiple lines of business
  • Quality client service
  • Market leader for Warehouse Legal Liability
  • Broad ACE global network capabilities with ACE-owned offices in all major markets and network of long term partners committed to ACE global standards

Coverage:

  • Comprehensive coverage form intended to cover the insurable exposures of a distribution warehouse or logistics company on a package or mono-line inland marine basis
  • Coverage designed to meet specific needs of client

Minimums & Limits

Minimum Premium

  • Variable based on client needs and type of exposure
  • Package approach generally $25,000 and higher

Deductible

  • Minimum deductible varies based on type and size of risk, generally $5,000 to $10,000

Limits

  • Up to a maximum of $50 million (based on client needs)

Target Client

Target Clients:

  • Domestic logistics companies
  • Multinational logistics companies
  • Control and supply chain management companies
  • Public warehouse operations
  • Third party logistics (3PL) and fourth party logistics (4PL) providers
  • Distribution warehouse or logistics company engaged in storing and handling property of others for hire.
  • Clients with active and comprehensive property preservation and contract review program

 

Restricted Industries:

  • 100 percent cold storage operations, unless mechanical breakdown exposure is excluded.

 

Submission Requirements

Acord or similar application to include a description of operations, schedule of locations with details on construction, age and square footage of buildings, 5 year loss history, breakdown of commodities stored by location, copy of warehouse receipt/storage agreements used with customers and coverage/limits requirements.

Financial statements needed if annual revenues exceed $20 million.

Coverages

  • Public and contract warehouse operations
  • Developed for each location based on the exposure from individual contracts and warehouse receipts
  • Sub-limits may be available for customization
    • Mysterious disappearance
    • Debris removal expense
    • Accrued charges
    • Bonds and interest
    • Newly acquired premises
  • Mono-line warehouse legal liability or warehouse package, including general liability, property and inland marine