Photo by Maruf Choudhury on Unsplash
Inflation is slashing through seemingly everything, including insurance on sea shipping. The cost of running and maintaining steamships for shipping cargo across the sea is getting more expensive, as well as the product being moved.
Damaged cargo claims and missing products are some of the largest factors in rising insurance costs.
Two more insurance providers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., are set to exit the California insurance scene.
California's largest insurance company is discontinuing coverage for 72,000 homes statewide due to increased natural disaster risks and inflation.
Rising insurance costs are causing many trucking companies to call it quits, leading to a hyper-competitive market for insurers.
Hidden inflationary costs are squeezing corporate profits, and it's not just the usual suspects like input and freight costs.
The UK government has announced a reduction in National Insurance tax for workers from 12% to 10%, aiming to provide relief amid a cost-of-living crisis.
Millions of Americans purchasing health insurance through the Affordable Care Act (ACA) marketplace face the annual task of comparing benefits and prices, considering changes to their plans, or enrolling for the first time.
CargoNet has reported a significant increase in cargo thefts in the second quarter of 2023, with 582 recorded incidents in the United States and Canada.
The incident involving a fire on a cargo ship carrying electric vehicles highlights potential insurance challenges and setbacks for the EV revolution.
Cargo theft has reached a decade-high, with the second quarter of 2023 witnessing a 57% increase compared to the previous year, totaling 582 thefts across the U.S. and Canada.
Wildfires have significant effects on logistics, disrupting supply chains, transportation networks, and overall business operations.
Insurance companies are facing increasing difficulties in providing coverage for damages caused by rising average temperatures, leading them to withdraw from certain markets.
Autonomous trucks have the potential to reshape how we think about insurance in several ways.
After years of insurance premium hikes, carriers may see some light at the end of the tunnel in 2023.
Incomplete data and strained law enforcement can create an environment that is permissive to cargo theft, as thieves are able to exploit gaps in security, intelligence, and enforcement.
Some people view capitalism as the foundation of the American economic system and believe it is responsible for the country's prosperity and success.
Insurance companies and reinsurers - those who insure the insurance companies - have been warning of scaling back after a multitude of losses associated with the conflict in Ukraine and Hurricane Ian.
Georgia, California, and New York judges have been notable for issuing legendary and severe judgments on defendants in the trucking industry.
Shipping firms transporting commodities such as oil and grains are beginning to panic as underwriters begin to pull back from reinsuring any risks that are related to the Russia-Ukraine war.
As it turns out, truck drivers are often easy targets for lawsuits, despite rarely being the party “at fault.”
Accidents involving big rigs, rising medical and litigation costs, inexperienced truckload capacity, and catastrophic losses are all putting major pressure on the insurance industry as a whole.
The Insurance Institute for Highway Safety (IIHS) is warning drivers that self-driving vehicles still require their attention.
When someone says “piracy” they may then think, “of the Caribbean” - unless they’re in the shipping industry.
Russia, Ukraine, Turkey, and the United Nations are gathering this week to sign a deal meant to guarantee the safe passage of grain from Ukraine across the Black Sea.
UPS Healthcare has reworked its UPS Premier packages with the goal of meeting customers’ needs.
Cargo insurance is essential when it comes to ensuring some security during such trying and uncertain times for the supply chain.
he cost of running and maintaining steamships for shipping cargo across the sea is getting more expensive, as well as the product being moved.
Paying very high premiums is common for most people including their family on their plan.
Hauling large quantities of freight over long distances does not come without its risk.
A proposed bill, dubbed the Fair Compensation for Truck Crash Victims Act, could significantly impact the trucking industry by raising the minimum liability insurance from $750,000 to $5 million—a hefty 566% increase.