Printed from

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

Posted On: Sep. 16, 2015 12:00 AM CST

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.

Read more