REVO expands its freight transport offer with road carrier liability

Verona, 25 November 2024 – REVO Insurance, Italy’s first operator specialising in parametric and special risk policies for SMEs and professionals, has extended its offer to freight transport with the development of a new marine solution on OverX: road carrier liability. The policy, designed for hauliers travelling on European roads, offers protection from the many variables that can contribute to damage to transported goods, starting with loss or damage to the goods entrusted to them. The cover also applies in cases of wilful misconduct, gross negligence, theft, deception, strikes and riots. Besides the insured’s liability as custodian, the cover also extends to damage that may occur during storage or in warehouses or other storage and transit areas.

The product was created following careful analysis of the sector, in accordance with REVO's approach to the market: “According to Eurostat data, 13.1 billion tonnes of goods were transported in the European Union in 2023, and goods transported in Italy amounted to around 1.04 billion tonnes“ – commented Gabriele Galanti, Head of Marine at REVO Insurance. “These figures, although slightly down on the previous year, reveal volumes that entail a high exposure to risk, and a very specific requirement for protection. Our objective is to grow further in this sector; that’s why we decided to further structure our offer, making it available on OverX to facilitate our intermediaries.” – concluded Galanti.

Finally, the product provides the option of adding a section entitled “Damage to goods transported on behalf of claimants” which covers the actual value of the goods, together with an option to select additional cover that is specific to the varied requirements of hauliers.