Cargo Insurance

Situation  In Q4, BSI recorded a significant uptick in rail thefts in North America, especially in the United States, in the Los Angeles area along trail lines, and near the port.  In Q4, the rail modality accounted for 6.7 percent of recorded cargo theft incidents in the United States. While this is a significant jump […]

Millions of goods are stuck on container ships waiting for a space to be unloaded at U.S. ports or to be hauled away in trucks, leading to massive traffic jams and supply chain bottlenecks. While short- and long-term solutions to rectify the various challenges are being discussed, it’s important for LSPs, cargo owners, warehouse operators and […]

  ONE Apus via Twitter   On November 30th, the cargo ship, ONE Apus, sailing from Yantian, China to Long Beach, CA, encountered severe weather. Swells exceeding 20 feet struck the vessel. An estimated 1816 containers were lost overboard, and containers remaining onboard received significant damage. Current estimates are that over $200 million worth of cargo was […]

The insurance industry is highly cyclical. A soft market cycle is defined by lower insurance premiums, broader appetite and coverage, increased capacity (the availability of high limits), and greater underwriting flexibility. Alternatively, a hard market is characterized by higher insurance premiums, diminished capacity, more conservative underwriting, and fewer carriers writing certain coverage lines and specific […]

    By Rick Bridges (VP, Client Development) and Grant E. Goldsmith (VP, National Accounts)   Warehousing risk is complicated with multiple stakeholders involved in the supply chain with varying levels of responsibility for the cargo. To effectively put together solutions to finance risks, warehouse providers require an insurance broker who understands not only their […]

  Beefing Up Mitigation Measures Essential for Supply Chain Security The coronavirus has upended our lives and businesses with stay-at-home orders, shutdowns, and limited crews to handle ongoing operations with remote work as the new normal. Amid this changing environment, criminals are taking full advantage of the disruption and high demand for personal protective equipment […]