Sea cargo insurance turns from broad brush to black box

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Sophisticated container tracking solutions will allow insurers to bring the benefits of automotive ‘black boxes’ to the maritime market, allocating risk more accurately and rewarding safe operators.

Insurers must make complex risk calculations when costing coverage for ships and their cargo. Premiums are based on a wide range of factors including vessel type, age and condition as well as voyage plan and cargo carried.

How the voyage is carried out has a huge influence, as does the exact route and condition of ...