Businesses and organizations with exposures in the industry face a number of challenges, including an increasingly competitive marketplace, increased legislation and the impact of technologies - and must prepare for the liabilities which may follow.
According to the Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 report, the global logistics market was estimated at USD 1.2 trillion in 2017.
Land, sea and air-based operations present a number of scenarios with the potential to give rise to an environmental liability.
Both logistics companies and those who rely on them as part of their operations must understand the potential environmental liability attaching to their activities, as well as the solutions available to avoid uninsured losses.
WHAT WE DO
Today, integrated rail, road, and air facilities are becoming more prevalent. Organizations must consider their potential business interruption exposures should their operations impact the functioning of a third-party’s distribution network.
Aviation wordings must provide limited compulsory pollution coverage, provided this is caused by a crash, fire or explosion or regarded as an in-flight emergency.
In terms of the wider ancillary services surrounding aviation, coverage remains limited and does not account for supplementary services associated with air transport, which are more likely to give risk to an incident.
Marine and port operators must carefully consider the potential impact a pollution event could have on their business reputation, and the third-party property damage which may arise in the event of an incident.
Our team of specialists has vast expertise and experience within the transport sector and we partner with both clients and insurers to deliver comprehensive, appropriate solutions to reduce the likelihood of uninsured losses.
Today, companies see environmental exposures as one of their biggest emerging risks. Our global team has the underwriting, engineering, consulting, claims, and wordings expertise to provide market-leading advice and deliver fit-for-purpose solutions for the most complex areas of risk.
This expertise has resulted in a 200% increase in the level of environmental placement in 2017-2018. This has been matched by a doubling in size of our environmental specialist team, which has access to GBP 400 million of environmental capacity in Lloyds and London markets.
Our specialist knowledge of key industry areas is complimented by strong and diverse relationships across the specialty insurance market, as well as our access to traditional and emerging markets through the JLT International Network.
We work closely with our clients to structure a policy that mirrors their risk profile and transfers the appropriate level of risk to the right insurer.
Additional services include:
- Program Gap Analysis - Identifying coverage gaps in existing programs, discussing how these could impact a business, and the extent to which they can be covered
- Global Program Advice - Including where legal and regulatory regimes may require local policies or heightened environmental due diligence
- Risk Solutions - Through our engineering team, we provide fee-based surveys and advice to support clients in reducing program premiums
- Claims Liaison and Support - Our claims advocacy team has experience across a number of complex environmental claims, ensuring the best interests of our clients are represented.