Freight News

Cargo thefts alarm insurers

[ September 17, 2019   //   ]

The International Union of Marine Insurance (IUMI) says that cargo crime has reached “alarming proportions” in a position paper published on 17 September, and has urged further steps to make it more secure. In particular, enforcement agencies should  increase transnational cooperation, it said.

IUMI’s Policy Forum chair, Helle Hammer said: “Cargo crimes are a large burden to society as the costs caused by stolen cargo, business interruption and loss of reputation do not simply disappear but are factored into the pricing of the products which are moved around the globe every minute of every day.”