At Borderless Coverage, when it comes to cargo safety it’s important we understand the complexities and risks involved in the US-MX trade lane. Recently, Nuvocargo published an insightful article titled “Enhancing Cargo Safety in the US-MX Trade Lane: Navigating Risks and Leveraging Nearshoring,” where they delved into these issues in detail with Mark Vickers, Reliance Partners EVP & Head of International Logistics.
Mexico has recently surpassed China to become the US’ largest trading partner, signaling a robust economic relationship that’s poised for growth. The concept of nearshoring is playing a significant role in this development, drawing attention from businesses and investors. However, with this growth comes increased risk, particularly in cargo safety. Mark Vickers, who is at the forefront of International Logistics at Borderless Coverage, emphasizes the growing need for comprehensive insurance solutions to protect shippers within Mexico. According to Vickers, there’s been a noticeable uptick in the number of shippers adding cargo insurance to their logistics costs, indicating a heightened awareness and proactive approach to mitigating risks.
The article from Nuvocargo sheds light on the stark reality of cargo theft in Mexico and the US, underscoring the urgent need for robust solutions. Vickers points out that many companies lack a clear understanding of the Mexican insurance landscape, which often leads to gaps in coverage. He recommends leveraging CTPAT-certified carriers and assets to enhance security measures and bridge the insurance gap in Mexico’s cargo market.
Furthermore, Vickers outlines three critical considerations for mitigating cargo safety concerns: working with CTPAT-certified carriers, developing a global freight strategy, and securing specific insurance solutions dedicated to cross-border cargo. He underscores the importance of a cohesive freight strategy and the selection of trusted partners to streamline the process and minimize risks.
At Borderless Coverage, we’re committed to providing shippers with the tools and knowledge they need to navigate these challenges effectively. Our Borderless Coverage Program is designed to offer primary coverage and a streamlined insurance process, helping shippers safeguard their cargo every step of the way.
To learn more about enhancing cargo safety in the US-MX trade lane and delve deeper into the insights shared by Mark Vickers, we encourage you to read the full article on Nuvocargo’s website. Check out the full article here.