Author: Kevin Woods
Following a growing demand for transportation options — freight and passenger — the US transportation sector is in a significant phase of investment and structural change. With 140,000 route miles connecting regional transport and commerce hubs, the US railroad network is widely considered the largest, safest and most cost-efficient freight system in the world.
As a transportation sector insurance and risk management specialist, Gallagher is a trusted partner to railroad operators and the supporting supply chain network, helping the industry move forward with increased confidence. In 2023, the scope of challenges, risk exposures and barriers to growth continue to evolve, with six key trends being of particular concern:
- Upgrading aging infrastructure — investment and structural change are pivotal to powering economic growth.
- Reclaiming supply chain share.
- Nuclear verdicts, rise in litigation and spiraling settlements.
- Technology advances, rapid digitalization and leveraging new innovation.
- Cybersecurity and risk concerns.
- Catastrophic events and remote response challenges.