The World Shipping Council (WSC) has released its annual report on containers lost at sea, revealing positive developments in container safety within the international liner shipping industry. The report covers the year 2022, showing that 661 containers were lost overboard during the year. “The reduction in containers lost at sea in 2022 is positive […]
Read MoreThe transportation of hazardous and combustible goods through containers has been on the rise, posing an increasing risk to both container shipping and car carrier vessels. Additionally, the prevalence of Lithium-ion (Li-ion) batteries has added to the potential dangers. Larger vessels now handle these hazardous cargos, amplifying the consequences of fires and resulting in […]
Read MoreAs supply chains become more global and intricate, the risk of loss or damage to goods in transit increases. On a long enough timeline, challenges such as extreme rigors of transit, long voyages, extensive handling and re-handling, inclement weather, targeted theft, and impostor schemes guarantee losses. In the absence of shipper’s interest cargo insurance to […]
Read MoreIn response to recent events in Ukraine, and in light of sanctions imposed against Russia and Belarus, Munich Re Syndicate Underwriters have taken the position that coverage for any shipment by U.S. and Canadian based client(s) to and/or from these countries is strictly prohibited. Further, coverage for the importation of any goods originating in Russia, […]
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