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Insurers refuse to provide cargo insurance in Rio de Janeiro

Posted On: Feb. 19, 2018 4:58 AM CST

Brazilian insurers have refused to sell cargo insurance or are charging high prices due to increasing levels of crime and violence in Rio de Janeiro and some other states in the country, BNamericas reported citing Agence France Presse. "In some places in the country, such as the metropolitan area of Rio de Janeiro, the insurance cost is so high that it is not worth it for a company to insure their cargo," said Alexandre Camillo, president of Sao Paulo insurance broker union Sincor-SP.

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