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A survey by U.S.-based payment software provider Accuity Inc. found that around 80% of cargo firms named reputational risk from trade sanctions and export risk as their main concern, Air Cargo News reported. The most significant threats that drive the need to manage sanctions risk include damage to brand and reputation, fines and potential jail time for staff and loss of import, export, or forwarding licenses and landing rights.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees