Responding to the lack of insurance coverage available to warehousing companies, the Chicago-based International Warehouse Logistics Association is introducing a new insurance program aimed at small to mid-sized operations.
Brokered by Gallagher Captive Services, the new Warehouse Program is a traditional, guaranteed-cost plan providing an alternative to members who have insurance coverage needs outside the scope of IWLA’s existing Captive Insurance Co.
It is available exclusively to IWLA members who have gross annual premiums in the $25,000-$250,000 range. Tailored to meet the special needs of warehouses, it offers warehouse liability, property, cargo, general liability and umbrella coverage. In addition, members can sign up for workers compensation, auto liability and auto physical damage insurance. The carriers with which the business will be placed are rated A+ by A.M. Best Co.
IWLA Chief Operating Officer Alex Glann said the recent hard insurance market of the past few years has driven premium rates up by as much as 100 percent in some cases. The new program is tailored to meet the special needs of warehousing operations. Qualifying members can pick and choose the coverage they desire.
For more information on the IWLA’s Warehouse Package Program, contact Alex Glann at aglann@iwla.com or call (847) 813-4699.
IWLA has more than 500 member companies.
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