As goods move across sea, land or international borders, tracking them becomes increasingly important and difficult. For example, with globalization resulting in greater trade with developing countries, the risk to goods in transit of theft or damage continues to rise.
Meanwhile, advances in technology are sharpening customers’ expectations in relation to manufacturing and distribution lead times.
Companies today are fully aware of the damage to their business relationships that failure to deliver can bring, so confidence in prompt, reliable delivery is a simple commercial necessity.
At Loy Insurance, we have access to several insurance programs designed to provide comprehensive coverage for goods in transit for manufacturers, importers and exporters, commodity traders, logistics companies and more.
We can also provide numerous extensions to coverage such as pure domestic transit movements, warehouse, storage, exhibition, processing or consolidation risks.