In a dispute over artwork lost in transit, a New York federal judge has ruled that FedEx Ground was liable to the artist for the lost works but that federal law caps its damages at the value placed on the …
Commodity trader Trafigura Group is facing more than half a billion dollars in losses after discovering metal cargoes it bought didn’t contain the nickel they were supposed to. nickel fraud Trafigura has spent the past two months uncovering what it …
More than 400 groups on Monday called on Congress to intervene in an ongoing railroad labor standoff that threatens to idle shipments of food and fuel and strand rail travelers while inflicting billions of dollars of economic damage. The U.S. …
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, announced the launch of a new Lloyd’s facility for the London market. The Liberty Project Cargo Consortium (LPCC) underwrites global project-related cargo risks. The facility, Consortium 7763, …
After many years working as a freight and logistics broker in the London market, Johnny McCord understood where the freight industry’s “pain points” were and thought technology and artificial intelligence (AI) could solve some of the underinsurance problems facing SMBs. …
InsurTech MGA Loadsure announced the launch of its new smart annual cargo product, Cargo Plus. The new offering is an annualized ocean cargo product that will deliver the financial convenience of a pay-as-you-go policy with the assurance that annual cover …
Howden, the London-based international insurance broker, announced the launch of xTrade Cargo, the first end-to-end digital trading platform dedicated to the oldest specialty class in the London market. This new initiative launched as a proof of concept in 2019 for …
Falvey Cargo Underwriting Offers Cyber for Cargo Falvey Cargo Underwriting announced its latest product offering, Cyber for Cargo, to help address broad cyber exclusions that apply to nearly all cargo insurance policies. The coverage protects against physical loss or damage …
Insurtech MGA Loadsure announced that it closed its $11 million Series A funding round, led by MMC Ventures. Other investors included Crowley, a global maritime, energy, and logistics company, and existing investor Insurtech Gateway. Loadsure, which delivered the industry’s first …
LISBON — A burnt-out cargo ship carrying thousands of luxury cars, including Porsches and Bentleys, sank on Tuesday off the Portuguese Azores archipelago nearly two weeks after it caught fire, a port official said. Joao Mendes Cabecas, the captain of …
