Marine insurance union calls for more measures to prevent rising cargo thefts

The International Union of Marine Insurance has called for more measures to prevent cargo thefts following an increase in such crimes globally, Splash 247 reported.

IUMI said in a position paper that cargo theft is no longer limited to high-value goods and that online trading platforms are driving the crime. "Back in 2008 the European Union estimated the annual economic damage to Europe was €8.2 billion ($9.3 billion) and this figure must be vastly increased today," an IUMI official said.

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