Customs brokers professional liability insurance

According to Article 397 of the Customs Code of the Eurasian Economic Union (EEU Customs Code) and Article 61 of the Federal Law No. 311-FZ “On customs regulation in the Russian Federation” dd. November 27, 2010, it is mandatory for all juridical persons engaged in the provision of services in customs activity sphere to be included in the registry of customs representatives.

Customs brokers professional liability insurance covers against:

  • claims for loss of or damage to or destruction of the documents for which the insured is legally responsible in the conduct of the professional services
  • professional negligence claims made due to customs duty or fee calculation errors
  • customs penalties or fines paid or payable due to customs clearance errors, including accrued fees and penalties
  • unanticipated extra costs due to increased customs clearance time or submission of the customs declaration beyond the prescribed time

If you have any questions about insurance, please contact us

Updated: 28.05.2019
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