2023 State of the Insurance Market: Transportation
Every year we take a close look at the insurance market and compile detailed State of the Market reports. Inside these reports, we discuss the challenges and trends impacting businesses, individuals, and the insurance industry. Plus, we explore emerging trends and risks while highlighting strategies and solutions that can help you mitigate risk and achieve your goals. In addition to full market reports, we also go into detail on how specific industries are impacted by changing market conditions. This year, one area we focused on is the insurance market for the Transportation industry.
The Transportation Insurance Market Snapshot
The COVID-19 pandemic upended many aspects of the world we live in. As a result, the transportation industry was forced to adapt to a number of challenges. For example, the cost of owning and operating a fleet only seems to grow with every passing year. This includes the price of insurance. While the current insurance market is one of the most challenging in years, it is still an essential investment for transportation companies. After all, insurance helps protect against unexpected monetary shocks.
Inside our Transportation industry market report, you will learn about:
- Key challenges the transportation industry faces
- What the primary insurance and reinsurance market looks like
- How the transportation industry can address these challenges
- Managing the overall cost of risk and insurance
- Strategies for finding a trusted advisor partner
This report can serve as a powerful resource for many types of transportation companies, such as:
- General Freight Trucking
- Specialized Freight Trucking
- Used Household and Office Goods Moving
- Couriers and Delivery Services
- Hazardous Materials Trucking
- Long-Distance General Freight Trucking
- Long-Distance Specialized Freight Trucking
- Local Specialized Freight Trucking
Insurance Coverage for Your Fleet
Underwriting scrutiny is at an all-time high and insurers are providing less favorable terms for coverage. Now’s the time to work with a team of Commercial Risk advisors with a proven track record in the transportation industry. Contact Burnham WGB today to learn more about how we can help you assess your risks and protect your assets and investments.