Today's third-party logistics providers–also known as 3PLs–are providing a broader range of more sophisticated services, in more places around the world, than ever before, and they are encountering more exposures as a result.

As some discover too late, some of these exposures are addressed only tangentially, if at all, by conventional "business as usual" insurance coverages. In addition, when faced with new exposures, it's not uncommon for 3PLs to buy different policies from different insurers. This patchwork approach may provide uneven coverage at best, and at worst, could result in costly coverage gaps.

Insurance designed to reflect the scope and complexity of the rapidly changing 3PL industry and the evolving global marketplace in which it operates is vital, yet the insurance industry as a whole has been slow to meet this need.

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