Transportation & Logistics

The logistics and transportation industry involves the movement of goods and people from one location to another. This includes freight and cargo transportation by land, sea, and air, as well as passenger transportation by public transit, taxis, and ride-sharing services.

Industry Details

This industry is critical to the global economy, as it facilitates trade and commerce between countries and regions. The logistics and transportation industry faces a variety of risks, including theft, damage to cargo, accidents, and delays caused by weather or other factors.

Insurance Types for 

Transportation & Logistics

The logistics and transportation industry involves the movement of goods and people from one location to another. This includes freight and cargo transportation by land, sea, and air, as well as passenger transportation by public transit, taxis, and ride-sharing services.

This industry is critical to the global economy, as it facilitates trade and commerce between countries and regions. The logistics and transportation industry faces a variety of risks, including theft, damage to cargo, accidents, and delays caused by weather or other factors.

To mitigate these risks, companies in the logistics and transportation industry should consider a range of commercial insurance policies, including:

Motor truck cargo insurance: Provides coverage for loss or damage to cargo being transported by a commercial truck.

Commercial auto insurance: Provides coverage for liability and physical damage to vehicles used for commercial purposes.

General liability insurance: Provides coverage for third-party bodily injury or property damage claims arising from the company's operations.

Workers' compensation insurance: Provides coverage for work-related injuries or illnesses suffered by employees.

Marine insurance: Provides coverage for loss or damage to cargo being transported by sea or other waterways.

Aviation insurance: Provides coverage for liability and physical damage to aircraft used for commercial purposes.

Umbrella insurance: Provides additional liability coverage beyond the limits of other insurance policies.

It is important for companies in the logistics and transportation industry to work with an experienced insurance professional to tailor an insurance program that meets their specific risks and needs.

Discover Our Recommended 

Transportation & Logistics

 Offerings

Koru Korner

Related Articles

Article

Facing Turbulence: The Challenges of Renewing Commercial Hull Insurance for Airplane Owners

For airplane owners, the skies aren't always clear. One particular cloud that often looms is the renewal of commercial hull insurance. While this insurance serves as a vital safety net, protecting the physical structure of the aircraft, the renewal process can often be as challenging as navigating through a storm. This article aims to shed light on the complexities airplane owners face during the renewal phase of commercial hull insurance.

Marine and Aviation Insurance
Article

ILS: Transforming from Competitor to Strategic Partner, Elevating the Reinsurance Sector to New Heights

Artemis Update: AM Best has upgraded its outlook on the global reinsurance sector from stable to positive for the first time in over a decade, highlighting robust profit margins and improved underwriting conditions. The rating agency now views insurance-linked securities (ILS) as strategic partners rather than competitors, emphasizing their role in supporting traditional reinsurers. Despite a deceleration in reinsurance pricing, AM Best notes that underwriting discipline and healthy profit margins are expected to be maintained.

Article

May to Break Another Cat Bond Record: Biggest Month of Issuance Ever

Exciting news in the world of finance and risk management! May is set to break records as the biggest month of catastrophe bond issuance ever. According to a recent article from Artemis, the market is experiencing unprecedented growth, highlighting the increasing demand for innovative risk transfer solutions.

Article

2023 Habitational State of the Market – Casualty

The habitational insurance market is facing a multitude of hurdles when it comes to casualty placements. Casualty markets in the habitational space have been adjusting prices due to increased loss activity and the continued impact of social inflation. Within this landscape, property owners, insurance companies, and brokers are confronted with a new reality. There are few markets offering General Liability (GL) coverage. It’s also difficult to find markets willing to participate in the lead $5M of excess coverage, making the marketplace even more challenging. To succeed in this demanding market, one must strike a careful balance between innovation, robust risk assessment, and adaptability.

Ready to partner with Koru?

Request a Risk Assessment today!