FIATA Group Bond Program

posted by AJOT | Jan 07 2007 at 07:00 PM | Logistics

The National Customs Brokers & Forwarders Association of America's (NCBFAA) newly formed relationship with the International Federation of Freight Forwarders Associations (FIATA) offers NCBFAA members acting as NVOCCs the opportunity to join the FIATA Group OTI Bond written by Avalon Risk Management, Inc. FIATA is the largest worldwide non-governmental organization in the field of transportation. FIATA's objectives include uniting the freight forwarding industry worldwide; representing, promoting and protecting the interests of the industry; and assisting with vocational training for freight forwarders and liability insurance solutions.

The NCBFAA is an organization with a strong presence in Washington DC, providing hands-on advocacy. Their members are kept current on regulatory and legislative issues and other agency regulations that impact logistics operations.

The FIATA Group Bond underwritten by Avalon is the only US group bond endorsed by FIATA. The group bond satisfies the US Federal Maritime Commission's financial responsibility requirement of NVOCC ocean transportation intermediaries. Avalon is proud to be recognized by the NCBFAA as a 'Preferred Provider.' Members receive benefits such as underwriting discounts on Avalon's Combined Transit Liability (CTL) Policy. Now with an established relationship with FIATA, the FIATA Group Bond Program is also a benefit available to NCBFAA members.

Combined Transit Liability (CTL) Program

The FIATA multi-modal bill of lading requires evidence of secured insurance and Avalon's CTL program satisfies this requirement. We are able to offer a tailored Errors and Omissions (E&O) and Cargo Legal Liability package from our sister company, Lincoln General Insurance Company, an A- (Excellent) rated company. Along with underwriting discounts, the CTL program has optional coverage that includes the following: