The answer to this question is provided by the European Commission.

In order to determine the appropriate classification for the liability of a freight carrier for damage to goods during road transport caused by the use of motor vehicles, it is worth noting that – pursuant to the second subparagraph of Article 15(2) of Directive 2009/138/EC (Solvency II) – “the risks included in a class shall not be included in any other class”. Two non-life insurance classes listed in Annex I of the Solvency II Directive are potentially relevant in this context:

• Class 7 – Goods in transit, which covers “all damage to or loss of goods in transit or baggage, irrespective of the form of transport”.
•  Class 10 – Motor vehicle liability, which covers “all liability arising out of the use of motor vehicles operating on the land (including carrier's liability)”. 

Class 7 addresses first-party risks, namely damage to or loss of the goods themselves; hence, it applies where the insured party has an interest in the goods themselves, typically as owner. 

Conversely, Class 10 concerns third-party liability arising from the use of motor vehicles, including specifically carrier’s liability. 

Moreover, in this context, the term “carrier” encompasses all professional transportation activities, including those carried out by freight carriers. 

Therefore, where the insurance covers the liability of a freight carrier in respect of third-party claims arising from damage to the transported goods caused by the use of motor vehicles, such cover clearly falls within Class 10. 

Accordingly, Member States do not have discretion to classify this liability under a different non-life insurance class, such as Class 7 – Goods in transit. This classification is binding and should be applied consistently across all Member States, in line with the objective of ensuring the correct and uniform implementation of the Solvency II Directive throughout the EU. 

A similar classification approach applies to goods transported by aircrafts and ships. As explicitly stated in Annex I, classes 11 and 12 also include “carrier’s liability” within the liability arising out of the use of aircraft and ships, respectively, in line with the formulation used for class 10 concerning motor vehicle liability. 

Therefore, the freight carrier’s liability for damage caused within the use of an aircraft to the goods falls under insurance class 11 (Aircraft liability), and the freight carrier’s liability for damage caused within the use of a ship to the goods falls under insurance class 12 (Liability for ships).
 

Disclaimer provided by the European Commission:

The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.