Why Smart Insurance Is Crucial for the Trade and Transportation Industry

cargo insurance programs

From businesses that engage in global trade to freight forwarding companies, cargo insurance programs are designed to help transportation service providers minimize their risk exposure at every level.

Who Needs Freight Insurance?

Clients engaged in trade and transportation often require coverage tailored to their industry niche. There are a few types of business that especially benefit from specialized cargo insurance programs.

1. Customs Brokers

In facilitating the shipment of goods over national borders, customs brokers must stay up-to-date on constantly changing international rules and regulations. In addition to errors and omissions coverage, brokers should look for insurers that offer reliable, automated platforms that streamline the entry clearance process while ensuring security and accuracy.

2. Businesses With Global Supply Chains

As global trade continues to expand, so do the coverage needs of manufacturers, distributors, importers and wholesalers. Smart cargo insurance programs should accurately evaluate the risk profile of trade partners as well as appropriate coverage for loss or physical damage of goods during transit.

3. Property Brokers and Freight Forwarders

Loss prevention and risk management are also important for entities that arrange transportation and storage on behalf of shippers. A strong plan should include protection at each stage of delivery, including distribution and warehousing.

An increasingly globalized marketplace and the rapid evolution of digital solutions have made it more important than ever that transportation businesses invest in a nimble, experienced insurance partner who knows the industry.