Insurance broker to provide insurance 101 lessons and risk management products on rail marketplace.
Sugar Land, TX (PRUnderground) January 21st, 2021. Commtrex, a leading digital marketplace for railcar leasing and other rail logistics services, is collaborating with Arthur J. Gallagher & Co, one of the world’s largest insurance brokerages, to help rail users understand and manage risks. The collaboration includes Gallagher’s sponsorship of Rail Insurance 101 content on Commtrex’s digital marketplace and the development of railcar insurance products that companies can obtain when leasing railcars through Commtrex.
Through this 101 sponsorship, Gallagher is helping to educate the next generation of rail shippers and railroaders. The railcar insurance product will be another value-added service available to Commtrex members. The content is expected to be available in February, and the insurance product is expected to start in the second quarter of 2021 at www.commtrex.com.
The North American rail network is a productive transportation mode for moving freight. Even with reduced demand because of COVID-19, railroads handled 11.5 million U.S. carloads and 13.7 million intermodal shipping containers in calendar year 2020, according to the Association of American Railroads (AAR). The train accident rate has dropped 34% in the last two decades, according to AAR statistics, but understanding and reducing safety risks remains a top priority for railroads and users.
“Gallagher’s focus and ability aligns with members of Commtrex. We are excited to provide solutions and services to the Rail industry helping clients reduce risk,” said Kevin R. Woods, National Director – Railroad Services, Transportation Practice for Gallagher.
Commtrex is a trusted marketplace for rail-related services, including railcar leasing, purchasing, storage, and transloading. It provides an easy way for railcar owners and railcar service providers to directly market their assets and services efficiently to companies that need those assets and services. Membership to the online marketplace is free for qualified rail professionals.
“We are excited about the opportunity to partner with a company that has a strong track record of helping their clients mitigate risk in the rail industry,” said Martin Lew, CEO of Commtrex. “Our partnership is focused on educating the rail industry through Insurance 101 lessons while also offering best-in-class insurance products for rail shippers. We are confident our collaboration will result in effective and convenient ways for rail shippers to manage their operations.”
Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 49 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
Commtrex is the largest rail marketplace empowering shippers to find and connect with transloading
services, storage locations, lessors, and a wide range of service providers. Commtrex is a highly‐trusted, effective, and data‐driven platform that is modernizing how the rail industry connects. Within three years, Commtrex has grown to over 1800 member companies, the majority of which are the largest commodity shippers across North America.