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A recent report from Grand View Research claims that the global logistics insurance market is primed to hit almost $70.5 billion by 2030, averaging a steady 2.8% compound annual growth rate between now and then.
According to the report, the continuing proliferation of the e-commerce market is largely responsible as it requires additional shipping and handling, which in turn provides additional opportunities for damage and loss before those goods ultimately reach their end users.
The cargo, marine, and enterprise segments of the industry were particularly dominant last year.
You can read more about that research and analysis here.
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