Can a courier company limit its liability for a lost package?

Yes, courier and carrier companies generally can lawfully limit their liability for loss or damage through properly incorporated terms and conditions, and this is a common and generally recognised practice in the courier and logistics industry, connected to general principles of Maltese contract law under the Civil Code, Chapter 16 of the Laws of Malta, provided these limitation terms were properly and clearly brought to your attention before you entered into the contract, and provided the limitation itself is not so unreasonable or unfairly imposed as to fall foul of unfair contract terms principles, particularly if you were dealing with the courier as a consumer rather than in a business capacity. Whether these specific liability limitation terms are genuinely enforceable against you depends significantly on factors including whether they were properly disclosed and reasonably accessible to you at the time of booking, rather than buried in fine print you had no realistic opportunity to review, and whether you were given an opportunity, which many couriers do offer, to declare a higher value and pay for enhanced insurance coverage for valuable items, which you may not have been aware of or offered. Given the specific circumstances of how these liability limitation terms were presented to you, and the significant gap between the limited compensation offered and your package's actual value, it would be worth having a lawyer review the specific terms and how they were disclosed to assess whether you have grounds to challenge the limitation, particularly if you weren't properly offered the option of declaring a higher value.