Marsh launches port blockage insurance

Marsh , a global insurance intermediary, has introduced a new port blockage insurance solution to protect shipping ports and terminals from revenue loss due to disruptions like accidents or natural disasters. This coverage, available as standalone or as an addition to existing insurance, was created in response to disruptions at the Port of Baltimore.

Supported by A+ rated insurers from Lloyd’s of London, the policy offers coverage up to $50 million, with higher limits available. It is tailored to meet the specific needs of clients, addressing unique risks and operational challenges.

Marsh noted that port blockages are becoming more frequent and severe, significantly impacting global trade. This new insurance facility aims to help businesses quickly recover from such disruptions.