The logistics industry in Australia is fast-paced and growing as many businesses are moving to outsource all or parts of their distribution and fulfilment services to third-party logistics (3PLs).
Businesses are outsourcing storage of stock and products, delivery both domestic and or international, as well as looking for advice on transportation related services, export and import shipping and more.
Often, 3PLs are providing advice as well as taking on these responsibilities for managing their customers’ distributions and delivery of goods into facilities and warehouses, without fully realising the increased high-risk exposures they are opening their businesses up to.
Added to this is the recent changes in legislation in recognising the level and extent of services now offered by the transport and logistics industry. It is essential that your insurance program reflects a similar level of sophistication.
These legislated changes and the wide variation in contractual responsibilities has created a difficult and uncertain environment for the logistics Industry both in terms of ensuring profitability and arranging adequate liability insurance protection.
It is apparent that the historical insurance products no longer meet the needs of the progressive and fast-changing transport and logistics industry.
Some of the coverages in market policy program can provide are:
• Liability for loss or damage to customers cargo including consequential loss;
• Liability to third parties including property damage and personal injury;
• Fines and penalties;
• Liabilities and expenses arising from a pollution incident;
• Liabilities arising from errors and omissions including delay and consequential loss;
• Tenant’s liability;
• Infringement of personal rights liability;
• Logistics and Defence costs cover.
• Chain of Responsibility Liability.
At East West Insurance Brokers, our professional brokers can help guide you through the available options on transport and logistics insurance and with our access to some of the leading global insurers, we can help you find the best solution most suited to your line of work.
Learn how you can keep your business safe, secure, and protected. Take the time to talk to us, you’ll be glad you did:
P: 1800 809 132
*Please note all insurance policies have exclusions. Please refer to the Product Disclosure Statement or Policy Wording before deciding whether the insurance policy meets your needs.