Tokio Marine Kiln and Marsh have launched a groundbreaking insurance facility aimed at ports and terminals, providing coverage against business interruptions caused by trade disruptions. This facility, believed to be the first of its kind, offers up to $50 million in coverage for losses stemming from factors like geopolitical events, severe weather, and other external circumstances affecting trade. The initiative responds to an increasing frequency of such disruptions, as highlighted by recent global trade challenges. Tokio Marine Kiln underscores that this new policy addresses the significant protection gap in existing port insurance coverage, facilitating quicker recovery from disruptions.
