Boom on the insurances for transport market

The fast growth of the transport insurances is an important attraction to more and more companies in the field, each of them trying to win a bigger market share than that of the competitors. This fight can be only good news for transporters, as insurance companies might slice some prices now and then.

According to the Insurance Supervisory Commission, the overall growth of the market will be around 25 to 26% compared to 2007. The growth of the transport related insurance market is caused by increasing trade requiring more transport services, by the increasing number of means of transport, notably heavy goods vehicles and by the financing sector (banks finance only insured businesses).