Carrier

What Does Carrier Mean?

A carrier refers to a company or individual that provides transportation services for people or goods. Carriers are responsible for the safe delivery of their cargo and may be held liable for any lost or damaged property as outlined in the contract of carriage. In the context of insurance, carriers can purchase various types of policies to cover the loss or damage of goods while in transit.

Insuranceopedia Explains Carrier

Carriers often transport vast amounts of property. For instance, a shipping company may move goods worth hundreds of millions of dollars across the ocean on a container ship. If something goes wrong, the owners of the products could face significant financial losses, and the company may be held liable. To mitigate these risks, various types of transportation, cargo, and business insurance policies are available to protect all parties involved from potential losses.