Aktiv Group, a leading European insurance broker, has launched a multi-modal cover policy and a freight payment bond product into China’s fast growing freight forwarding sector, targeting thousands of small-to-medium sized companies.

The freight payment bond is the first insurance scheme on offer to more than 15,000 SME freight forwarders in China, and provides affordable cover against outstanding freight costs due to bankrupt agents.

Previously freight payment bonds were mainly available through self insurance schemes.

The multi-modal cover policy provides a comprehensive coverage against manifold liability such as the Montreal and Warsaw Conventions and Hague Visby Rules and other international transport conventions for sea and airfreight.