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Understanding 3PL Insurance: What It Is and Why It Matters
Third-party logistics (3PL) insurance is a specialized coverage designed to protect businesses that outsource logistics services to third-party providers. This type of insurance is crucial because it safeguards against potential losses or damages that can occur during the transportation and storage of goods. As companies increasingly rely on 3PL providers to manage their supply chains, having adequate insurance ensures that any unforeseen incidents don't result in significant financial setbacks.