Marine Insurance Case Study

Fire damage claim: case study

timing

3 months

type of recovery

amicable

loss ratio

93%

loss amount

26 004.40 EUR

countries involved

Portugal, Italy, Greece

Background

A shipment of footwear was transported from Portugal to Greece vía road transport.

The incident

The truck caught on fire on an Italian highway and the entire shipment was destroyed.

The challenges we faced

  • No information regarding the cause of the fire outbreak.
  • Limit of liability by CMR is lower than the amount paid by the insurer.

Conclusions

The insurer of the effective carrier accepted liability based on the fact that the cargo was under the carrier’s custody at the moment the loss occurred. In addition, we managed to receive an offer for 24,164.86 EUR, which is over the limit by weight established in the CMR Convention.

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