Unit 5. Freight Transport Insurance

Damage compensation is less than the damage cost:

• Under-insured

• Over-insured

• HIgh-insured

Insurer is defined as:

• The company that commits to pay compensations in case of damage or loss in exchange of the agreed-upon amount

• The company that commits to pay compensations in case benefits in exchange of the agreed-upon amount

• The company that commits to receive compensations in case of damage or loss in exchange of the agreed-upon amount

The insured is defined as:

• The company that engages in a risk but pays a fee (premium) to ensure coverage

• The company that is at no risk but pays a fee (premium) to ensure coverage

• The company that engages in a risk but receives a fee (premium) to ensure coverage

The policy holder is defined as:

• The company that offers the insurance

• The company that hires the insurance and pays the premium

• The company that receives the insurance

CIM contract is applied to:

• Train

• Road

• Ship

CMR contract is applied to:

• Train

• Road

• Ship

Legislation that regulates land transport

• LOTT (Ley de Ordenación de los Transportes Transatlánticos)

• LOTT (Ley de Ordenación de los Transportes Transoceánicos)

• LOTT (Ley de Ordenación de los Transportes Terrestres)

The insurance premium is defined as:

• The compensation cost

• The freight cost

• The coverage cost

Apparent damage is:

• Visible damage

• Invisible damage

• All type of damage

Door to door coverage area is applied to:

• Air Transport

• Train Transport

• Multimodal Transport