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International

Insurers reduce coverage for goods in transit as truck hijackings soar

November 29, 2022 Reprints

A report cited by South Africa’s Minister of Police Bheki Cele said that truck hijackings increased almost 37% in South Africa in the second quarter of the year, prompting insurers to reduce or withdraw coverage for certain goods in transit, Algoa FM reported. Insurers are raising premiums and reducing coverage for copper, cobalt, catalytic converters and even frozen chickens and alcohol, as attacks on trucks increase.

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Insurers reduce coverage for goods in transit as truck hijackings soar

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