According to Verisk’s CargoNet system, cargo thefts in the United States and Canada fell 15% year over year in 2021, with an estimated $58 million in cargo stolen last year. The cargo theft database and information-sharing system recorded 1,285 supply chain risk events in both countries. Of those, 55 percent involved theft of at least… Continue reading Cargo Thefts Down 15% in 2021: Verisk
Tag: supply chain insurance
Cargo Ships Are Again Idling Off Jammed Southern California Ports
Container ships are stacking up again off Southern California’s jammed ports, as a flood of imports and logjams in domestic logistics networks hit operations at the biggest U.S. gateway for seaborne trade. Thirty-seven container ships were anchored off the adjacent ports of Los Angeles and Long Beach in recent days, according to the Marine Exchange… Continue reading Cargo Ships Are Again Idling Off Jammed Southern California Ports
Insurers Prefer Warehouse Investments over Offices as COVID Hastens Real Estate Shifts
Global insurers want to increase investments in commercial warehouses as their stakes in office space become riskier because of employees working remotely during the novel coronavirus pandemic, Goldman Sachs Asset Management (GSAM) executives said. The pandemic is hastening a shift among insurers to exchange “undesirable” real estate investments, which also include retail properties, such as… Continue reading Insurers Prefer Warehouse Investments over Offices as COVID Hastens Real Estate Shifts
Warehouse Demand Surges as Retailers Reset Supply Chains
Demand for U.S. warehouse space is rebounding as upheaval from the coronavirus pandemic pushes businesses to retool their supply chains. Industrial real-estate activity, such as lease renewals and new leases, jumped 43% from April 15 to May 14 from the previous 30-day period, recovering more quickly than expected from the economic shocks of the pandemic,… Continue reading Warehouse Demand Surges as Retailers Reset Supply Chains
U.S. Suspends Truck-Driving Limits to Speed Coronavirus Shipments
U.S. highway-safety regulators are suspending rules that limit daily driving hours for truck drivers moving emergency supplies such as medical equipment, hand sanitizer and food in response to the nationwide coronavirus outbreak. The Transportation Department’s Federal Motor Carrier Safety Administration announced the nationwide exemption late Friday, following President Trump’s declaration of a national emergency over… Continue reading U.S. Suspends Truck-Driving Limits to Speed Coronavirus Shipments
Climate Change Could Add Around $100B to Costs of Extreme Weather
Climate change could add around $100 billion, or more than 20%, to the global cost of extreme weather events such as floods, heatwaves and droughts by 2040, research from Cambridge University shows. The findings come from the university’s Climate Change Business Risk Index, which uses climate modeling data to quantify extreme weather event risks and… Continue reading Climate Change Could Add Around $100B to Costs of Extreme Weather
Zurich Insurance Partnership Tackles Supply Chain Risk
Insurance firm Zurich is introducing a new supply chain risk management service in conjunction with riskmethods, reports Global Banking and Finance Review. Through the partnership, Zurich Insurance Group will provide corporate customers with riskmethods’ supply chain risk identification and management technologies. The company provides risk mitigation tools for vendor, cyber, natural disaster and human capital-related… Continue reading Zurich Insurance Partnership Tackles Supply Chain Risk