TT Club warns of Russian market risks

Freight and logistics insurer, the TT Club, has warned transport operators in the Russian market of a fivefold liability risk profile associated with doing business in the region.

Alexander Petrenko, deputy director of Panditrans, TT Club’s representative partner in Russia, said that in addition to claims for loss or damage to cargo, operators could be liable for financial losses through errors and omissions, as well as third-party liabilities, and fines and duties imposed by state authorities.

There is also a range of costs arising from the consequences of any incident involving a container or cargo transport unit (CTU).