Cargo Insurance
The call comes in on a Thursday afternoon. A shipment of imported olive oil arrived at the distribution center with clear signs of temperature deviation. The product is unsaleable. The importer files a cargo claim and waits. A week later, the claim is partially denied: the policy has a temperature excursion exclusion for delays caused…
A food importer receives a shipment of specialty olive oil from Spain. During transit, the cargo is damaged when condensation inside the container causes the product labels to degrade, the packaging to weaken, and a portion of the bottles to crack under shifting pressure. The importer files a claim. The insurer denies it. Why? Because…
Cargo theft is not a fringe concern for food shippers. It is a growing operational and financial risk that cost the U.S. supply chain an estimated $223 million in reported losses in a single recent year — and industry analysts consistently note that reported figures represent a fraction of what actually occurs. Food and beverages…