Transportation and Shipping
The transportation industry is a staple for the United States’ and Global economies. As this industry has experienced premium rates increasing over recent years, and expectations reveal that transportation businesses’ rates will to continue to rise, the necessity to proactively benchmark insurance costs and secure adequate coverages must shift into high-gear.
A reliable risk management program is one that addresses gaps in coverage, so there is little or no question of the exposures that would cause loss, which could stall operations. Therefore, a well-functioning risk management program should perform like a well maintained transmission, whereby a potential disconnect between the gears or layers of protection must be given the proper attention, so the business as an engine – does not seize.
There are a multitude of perils that must be addressed due to the nature of the transportation and shipping industries. This includes a growing exposure to cyber losses, auto claims, compliance or regulatory issues, operational inefficiencies, environmental exposures, and others, so the need to proactively perform risk identification and penetration testing is critical.
ICA brings years of expertise to Transportation industry clients by evaluating such perils, and aids those clients in understanding the high costs of risk that are typical to this industry, one of which being the costs resulting from accidents, or collision on land or by sea.
ICA’s transportation clients have benefited from the most competitive structuring of such costs and insurance coverages, by using ICA’s risk management marketing services. To avoid disaster and help ensure their continuity, Transportation businesses must map the underlying risks that face them and plan their routes accordingly, to avoid “high seas” or “potholes” in the path of their current risk management programs. According to one of ICA’s transportation clients:
“We do not make any insurance decisions without consulting ICA first. They have been a pivotal part of our team and company growth over the last 12 years and we consider them an extension of management. They have continually saved us money, improved our coverage and kept us competitive during a hard automobile insurance market when many of our competitors have left the industry due to tremendous operational overhead…”
– Transportation Client
Contact ICA for a comprehensive list of client references.