New insurance offering for logistics market
Philadelphia-based ACE USA has formed a subsidiary, ACE Logistics Industry Practice, that will provide comprehensive insurance coverage for domestic and multinational logistics companies, direct air carriers, third-party logistics providers and supply chain management companies.
Services include coverage for first-party warehousing, general liability, motor truck/contingent motor truck cargo legal liability, property coverage, and transportation and warehouse legal liability, said Richard Decker, senior-vp ACE US International.
“The logistics industry has undergone a dramatic transformation in the marketplace in the last decade, resulting in rapid growth and consolidation in supply chain and third-party logistics providers,” he said. “The formation of our Logistics Industry Practice allows us to address the unique needs of this market segment.”
Stephen Connor, vp-ACE US International, will head the new group.