Transport and logistics companies are struggling to access the insurance and risk data they need to manage supply chain risks.

This is amongst the findings of a joint report from Lloyd’s and WTW, which shows that whilst 90% of the transport and logistics companies polled consider insurance for supply chain risk to be critical, 77% said that the challenges of obtaining it, as well as the data to fully comprehend the risks, were among the greatest challenges to their businesses.

On the Move: Rethinking transport and logistics supply chains explores the biggest threats to an industry that underpins £70bn of global trade and has a market value of £7.6trn.

Reflecting the views of over 175 risk professionals from across the global transport and logistics industry, On the Move explores the impacts of disruption across road, rail, air and sea, via eight key supply chain drivers: sustainability, decarbonisation and ESG; technology; labour; business models; regulation; and global trade, geopolitics and geoeconomic risk.

Anthony Monaghan, transportation leader GB, WTW said: “This report offers real insight into the supply chain challenges facing the industry in today's uncertain economic and geopolitical climate. Transportation and logistics companies are taking steps to mitigate these challenges – whether that’s sharing assets or collaborating with technology companies – and further opportunities to collaborate must be identified to reduce risk, maximise efficiencies and minimise disruption within the supply chain.”

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