Record growth in air cargo: how does it impact cargo insurance?

Air cargo transport has experienced significant growth in recent months. According to the International Air Transport Association (IATA), in November 2024, an 8.3% year-on-year increase in cargo tonne-kilometers (CTK) was recorded, marking the largest surge since December 2021.

This resurgence is attributed to key factors such as maritime port congestion, the increasing demand from e-commerce, and the imperative for expedited deliveries in globalized markets.

At Argentina, air cargo destined for exports has grown in 2024, driven by the reactivation of strategic markets such as Brazil and China. However, imports have shown a drop, reflecting lower domestic demand and economic restrictions (Source: AAACI).

The increased volume of air-freighted cargo entails heightened risks for businesses, ranging from damage and loss to theft and delays, all of which can lead to significant financial repercussions. To ensure secure and efficient operations, it is crucial to have Cargo Insurance that safeguards the consignment throughout all transit stages.

The growth in air cargo necessitates specialized insurance solutions. Hanseatica offers Cargo Insurance designed to mitigate the risks associated with this activity and ensure businesses operate with confidence. Its coverages include:

• All Risks: Comprehensive protection against damage or loss from origin to destination.
• Loading and Unloading Damage: Coverage for incidents during handling operations.
• Theft and Pilferage: Protection against the unlawful removal of goods in transit.
• Delays and Economic Losses: Coverage for delays impacting the logistical supply chain.
• Conveyance Accidents: Covers collisions, overturns, and other unforeseen events affecting the cargo.
• Door-to-Door Coverage: Comprehensive protection throughout the entire transit, including intermediate storage facilities.

Furthermore, Hanseatica's policies are flexible and customizable, enabling each enterprise to tailor its coverage to its specific logistical and commercial requirements.