Insurance news from Iran shows oil tankers are bypassing embargoes

oil Insurance News

Iranian vessels are now easily skirting around the E.U. sanctions. Though the sanctions from the E.U. against Iranian oil tanker coverage had been making insurance news with their efficacy when they were first set into place in July, the Middle Eastern country has since shown that it is no longer struggling with those bans. The coverage embargoes are no longer in the way of Iran’s crude shipments. According to the Central Insurance of the Islamic Republic of Iran’s deputy head for planning and development, Rahim Mosaddeq, “Most of the sanctions…

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Cargo theft is are out of control and costing companies millions

The National Insurance Crime Bureau (NICB) released its latest report on cargo theft for last year. They show more than 740 cargo thefts across the U.S. valued at more than 171 million dollars. Topping the chart for the states with the highest amount of thefts is California. Any time that merchandise is in transport from the shipper to its destination; regardless of transport method, it is considered as cargo. Most thefts occur mainly from truck or railcar mediums but thefts from air freight and goods in between transport modes are…

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