TIMBY Specialty Insurance Solutions launched Warehouse Legal Liability Coverage (WHLL), a product tailored specifically for public and contract warehouses that handle third-party property.
“Building on TIMBY’s initial success in the inland marine market, the launch of warehouse legal liability represents the continuation of our foray into the transportation logistics space – a key strategic step toward our mission to provide the best solutions for our distribution partners,” said Van Spanje, TIMBY’s CEO and founder. “Leveraging technology that streamlines the underwriting process and accelerates our distribution capabilities, our warehouse legal liability offering is the perfect marriage of tech capabilities and traditional underwriting.”
Key takeaways:
· With limits up to $5,000,000 per location, the WHLL product offers coverage beyond just the storage of goods. It offers options covering additional activities modern warehouse operations encounter, including the handling, repacking, and processing of stored goods.
· Target industries for the coverage include public and contract warehouse operations engaged in the business of storing others’ property for a fee, including handling and processing operations.
