Muscat: The Capital Market Authority (CMA) has issued an alert that the insurance coverage for vehicles will be forfeited, regardless of comprehensive or third party insurance, during the period when they are shipped from one place to another on trailer trucks.
The CMA said that the trailer truck insurance policy does not cover the shipped vehicles, as they are treated as goods carried on the back of the trailer. The damage to the goods is covered by another type known as freight insurance.
With the advent of khareef season in Salalah, the CMA said as a number of visitors to the Dhofar governorate transport their vehicles on trucks, it called on vehicle owners to ensure that the truck owners have shipping insurance that covers any damage to the cargo, whether it is vehicles or any other merchandise.
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