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Fraud is the biggest threat to cargo, says insurer the TT Club.
The Club says that the almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits including payment fraud that involves existing mandates and impersonation of executives to procurement fraud featuring false invoicing.
Carrier fraud, in which criminals imitate hauliers and other sub-contractors, including drivers with falsified documents, accounted for 84% of TT fraud or ...
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The latest issue of freight transport insurer TT Club’s StopLoss newsletter unravels the mysteries of General Average.
Produced in collaboration with forwarder’s association, FIATA and the Global Shippers Forum (GSF), the publication provides a straightforward summary of the topic, along with essential good practice advice.
While General Average is widely used and is as old ...
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TT Club is calling for everyone in the supply chain to take responsibility for container ship fires. With serious fires occurring every 60 days on average, the freight and logistics insurer is once more urging a more comprehensive approach to halting the trend.
“There were significant lessons coming from the sad ...
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Freight transport insurer TT Club has signed up to the United Nations Principles for Sustainable Insurance (PSI), a global framework for to address environmental, social and governance (ESG) risks and opportunities. PSI is a global, collaborative initiative that strengthens the industry’s contribution as risk managers, insurers and investors to building ...
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EeLain Ong has taken over as chief financial officer (CFO) of international freight transport and logistics insurer TT Club. Appointed in April 2022, she has shadowed outgoing CFO Julian Chowdhury prior to his retirement. In addition to roles at insurance providers, Ong also had experiences as a regulator, an auditor, ...
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Freight transport insurer TT Club is calling for increased vigilance after a spate of fires involving lithium batteries in seafreight. With the number of consumer products using such batteries increasing exponentially and new restrictions on the airfreight for such goods coming into force on 1 April, greater volumes are being ...
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International freight transport insurer TT Club has produced a series of animated videos highlighting the risks of pests taking unwelcomed rides in cargo. The four clips feature how the route taken by a road transport vehicle can affect cleanliness, as well as how mud and vegetation can harbour invasive pests, ...
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Viking Life-Saving Equipment’s HydroPen onboard container fire-fighting system won the TT Club Innovation in Safety Award at a virtual presentation ceremony on 22 February. PSA International and Cargotec Sweden AB were highly commended.
HydroPen enables fires to be attended by the ship’s crew from a safe distance and the judges were ...
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The wet European summer, not the depths of winter is when cargo is at greater risk from weather events, according to analysis by logistics insurance specialist TT Club.
It says that extreme flooding across broad swathes of continental Europe during July and August 2021 has become a major risk to cargo, ...
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Insurance provider TT Club has launched a series of animations to highlight dangers in the supply chain. The seven animations illustrate in graphic form a variety of theft techniques including driver attacks, impersonating personnel, exploiting inadequate perimeter fencing and theft from moving vehicles.
TT Club’s managing director of loss prevention, Mike ...
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