Transport Services - Financial & Insurance
An adjunct to the transportation industry is the financial services industry such as insurance and banking. Operators of transportation equipment such as airlines, shipping lines and truck fleets need insurance coverage to protect them against certain business risks such as accidents and thief or hijacking of cargoes. There are many instances where ship tours operators become vulnerable to piracy on the high seas and the ship seized by pirates for ransom payments. This is where having an insurance policy comes in handy.
Jamaica International Insurance Company
Banks also lend a hand towards the transportation industry by extending loans and other forms of financial assistance such as factoring of receivables. These financial firms help transport operators renew their fleets by offering financing services such as leasing.