According to the Office of National Statistics, goods worth over £59 billion were imported and exported from the UK in 2016. These goods can be travelling by road, air, sea or rail, from across the globe. Theft, physical damage, and disappearance are some of the ways in which cargo can be lost or damaged and this can be costly to a business.
When an incident occurs, many are found without sufficient cover and end up facing large losses.
There are a number of issues that can result in large losses. These can include theft, accidental loss or damage as well as fire and explosion. Hijacking, extreme weather events and political unrest can also cause damage and affect the supply chain.
With over 12,000,000 cargo containers in circulation1, insurance plays a pivotal role in providing protection.
Read more about the issue of cargo liability
