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FIATA MTI meeting 2007:
Zurich, Switzerland
The International Federation of Freight Forwarders Associations (FIATA), the largest worldwide non-governmental organization in the field of transportation, held its FIATA MTI Meeting this March in Zurich, Switzerland. Avalon was one of 210 FIATA delegates from almost 60 countries that attended the meeting.
One of the major topics of the meeting
was the issue of security in regard to
cargo in transit. Various countries are
implementing rules and regulations
without regard for global harmonization.
Although FIATA supports all security
precautions to help minimize the threat
of terrorism, the organization says
programs should be standardized in close
cooperation with the affected industry.
FIATA formed a Working Group to deal with security matters,
which has already begun working on a summary of regulations.
The group’s main goals are to establish national forwarders
associations as the business partner of choice for
authorities developing security legislation, and achieve a
level of security for freight forwarding by a harmonized
application of cost-effective, risk-based standards.
Compliance was another issue that
received considerable attention. Agencies worldwide are
increasing their focus on regulatory compliance with the
U.S. Federal Maritime Commission (FMC) being one of the most
notable. Avalon was asked to provide more information to the
MTI Delegation in the area of FMC compliance. As the
exclusive provider of the FIATA Group Bond Programme, Avalon
is well positioned to support FIATA’s membership in this
area. Below are links to materials distributed at the FIATA
MTI Meeting:
The FIATA Group Bond Programme
The FIATA Group Bond, underwritten
and administered by Avalon Risk Management, Inc. is the only
group NVOCC bond endorsed by FIATA. The FIATA Group Bond
satisfies the FMC’s financial responsibility requirement of
NVOCC Ocean Transportation Intermediaries (OTIs). In
addition to the group bond, Avalon’s Combined Transit
Liability (CTL) program fulfills FIATA’s financial
responsibility requirement to carry liability insurance.
Avalon’s CTL Program
The FIATA Multi-Modal Bill of Lading
requires evidence of secured insurance, and Avalon’s CTL
program satisfies the requirement. We offer a tailored
Errors and Omissions (E&O) and Legal Liability package
through our sister company, Lincoln General Insurance
Company. The CTL program has optional coverage* including
the following:
- Warehouse Legal
- Motor Truck Cargo Legal Liability
- Contingent Cargo Legal Liability
- First Dollar Defense
- Ground Up Defense
- Worldwide Legal Defense
- Regulatory Defense for FMC/Customs and Border Protection
- Expanded Defense for other government agencies
- Prior Acts Coverage on E&O
- Pollution Cleanup & Removal
- Special Contracts
- Third Party Liability (outside the U.S.)
*Optional Coverage varies based on whether your company is U.S. or non-U.S. domiciled.
CTL Application:
For further information please contact us at
fiatabond@avalonrisk.com. For more information about the company, please visit our website
www.avalonrisk.com.
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