Transport businesses have specific insurance needs and risk exposures which require careful consideration, particularly in light of the current COVID-19 pandemic environment.
The Transport Industry Risk Update: COVID-19 considerations guide provides information on the scope and limitations of commercial insurance policies for transport businesses and perspectives specific to COVID-19, including planning for post-lockdown trading conditions, with key information on covers including:
- Public Liability insurance
- Cyber risk and data security
- Workplace Health & Safety
- Management Liability insurance
- Employer Practices Liability (EPL)
- Inter-state biosecurity and quarantinable acts legislations will likely see stricter controls and consequences in rise to COVID-19 in relation to movement of goods and produce in Australia and internationally
- Supply chain impacts and distribution delays and changes creating fluctuating demand for transport services
- Warehousing and distribution: impacts range from managing surges in demand on stocks, to changes in shipments and distributions from Asia to the available resources/ labour pool.
- Road freight/trucking: pressures to backfill and support deliveries amidst highly fluctuating fuel prices
- Shipping, marine and cargo industry impacts due to COVID-19 shipping restrictions and international and port terminal challenges
- and more...
It is important to maintain adequate insurance cover and have the ability to resolve emerging risk exposures which would otherwise be either underinsured or not insured at all.
Working closely with a Gallagher transport insurance specialist can help you to manage complexity and ensure you’re equipped to lead your business through a period of change and uncertainty.