Protecting your company with international trade insurance allows you to continue working with the supply and demand of goods across the globe. However, the market has changed in recent years due to a variety of factors. These changes have had some interesting impacts on international trade companies.
The financial crisis of 2008 is still felt in many regions of the world. Trade as a whole slowed and many companies and countries became more cautious. About 539 trade restrictions have been added throughout various countries to help protect their domestic trade.
China and various members of the former USSR joined the global trade economy from the 1990s through 2001. Their growth had a huge impact on the number of goods traveling between countries, but that growth has since stabilized.
With any company, there are risks that need the right insurance protection for the business’ assets. As seen on iSure Insurance, coverage needs vary depending on developments in the market. Product recalls, ocean travel and trade issues can all impact the business, but they rarely stay the same throughout the year.
International trade insurance provides protection for your business as you navigate the changing world economy. Focusing on international trade allows your company to help boost domestic economic growth and provide additional jobs.