Today’s economy reaches across the globe and logistic service providers make shipping and transport between continents fast and easy. What most people do not realize is that there are a lot of risks faced by logistic companies that can impact their ability to get products where they need to be. Insurance coverage is needed to keep the supply chain moving at all times without being affected by outside forces.
Types of Logistic Insurance
Because the logistic industry is so broad and varied, there needs to be a wide range of insurance options available as well. Logistic service providers often choose from one or more of the following coverage types, depending on their specific needs:
- Motor Truck Cargo Legal Liability
- Marine Cargo Insurance
- Warehouse Legal Liability Insurance
- Contingent Cargo Liability
- Transportation Legal Liability
Corporations large and small can benefit from insurance policies that are customized to fit within the company’s focus. A custom plan often helps businesses save money in the long run by providing only the coverage that is needed.
Because the world is always changing, it is important that logistic service providers have policies that can change as well. New risks and exposures may come up that could cause a negative impact, but a high quality insurance provider should stay up-to-date on the risks that their clients could potentially face.