Cargo Transportation Insurance Market Report 2026

The cargo transportation insurance market size has grown steadily in recent years. It will grow from $58.77 billion in 2025 to $61.03 billion in 2026 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to expansion of global trade activities, growth of international logistics networks, increasing value of transported goods, rising awareness of transit risk mitigation, development of standardized cargo insurance products.

The cargo transportation insurance market size is expected to see steady growth in the next few years. It will grow to $73.15 billion in 2030 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing adoption of real-time cargo tracking integration, rising demand for customized insurance coverage, expansion of cross-border e-commerce shipments, growing use of predictive risk analytics, increasing focus on supply chain resilience. Major trends in the forecast period include increasing demand for comprehensive transit risk coverage, rising adoption of digital cargo insurance platforms, growing use of data-driven risk assessment, expansion of multi-modal insurance policies, enhanced focus on high-value cargo protection.

The growth in marine transportation is expected to drive the expansion of the cargo transportation insurance market in the coming years. Marine transportation, also known as maritime transportation, involves the movement of goods, people, and resources across waterways using vessels such as ships, boats, and yachts. As marine trade volumes increase, the need for cargo transportation insurance rises, as these policies protect goods against loss or damage arising from risks associated with sea or air transit, as well as subsequent land and inland waterway transportation. For example, in October 2024, according to UN Trade and Development, a Switzerland-based intergovernmental organization, global maritime trade volumes reached 12.29 billion tonnes in 2023, reflecting a 2.4% increase compared to 2022. Therefore, the rise in marine transportation is contributing to the growth of the cargo transportation insurance market.

Companies operating in the cargo transportation insurance market are increasingly focusing on developing advanced cargo insurance solutions through digital platforms, such as proprietary online shipping systems, to enhance shipment protection and gain a competitive advantage. A proprietary online shipping platform is an exclusive digital system owned and operated by a company to manage and execute shipping-related processes efficiently. For instance, in February 2023, Echo Global Logistics, a US-based provider of technology-enabled transportation and supply chain management services, launched EchoInsure+, a comprehensive cargo insurance solution. This offering provides full coverage for less-than-truckload (LTL) shipments and enables faster claims settlement, with claims payable within 10 days. Through its EchoShip online platform, Echo simplifies the process of booking supplemental cargo insurance, offering clients broader coverage with zero deductibles up to $10,000.

In March 2023, Mediterranean Shipping Company S.A., a Switzerland-based global leader in shipping and logistics, acquired AlisCargo Airlines S.p.A. for an undisclosed amount. Through this acquisition, Mediterranean Shipping Company aimed to strengthen its air cargo capabilities, expand its trade lane network, and establish a European gateway to enhance logistics services. AlisCargo Airlines S.p.A. is an Italy-based company specializing in air cargo services, providing freight and logistics solutions across multiple regions.

Major companies operating in the cargo transportation insurance market are Axa SA, Generali, Lloyd's of London, American International Group Inc., The Phoenix Insurance Company Ltd., Tokio Marine, Chubb Corp., Swiss Reinsurance Company Ltd., Zurich Insurance Group Ltd., Sompo International, Travelers Companies Inc., Marsh LLC, Samsung Fire and Marine Insurance Co. Ltd., QBE Insurance Group, Aon PLC, Markel Corporation, HDI Global, Arthur J. Gallagher and Co., Allianz SE, Hanover Insurance Group, Lockton Companies Inc., Hiscox, Great American Insurance Group, Mitsui Sumitomo Insurance, RSA Insurance Group, Liberty General Insurance Ltd.

North America was the largest region in the cargo transportation insurance market in 2025. The regions covered in the cargo transportation insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cargo transportation insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cargo transportation insurance market includes revenues earned by entities through freight insurance, logistic insurance, and transit Insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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