via FreightWaves: Shippers beware of cross-border insurance gaps
In a FreightWaves article published on February 25, Sunset’s Managing Director, Jose Minarro, commented on recent insurance trends being affected by the uptick in inbound Mexico shipments alongside Mark Vickers from insurance provider Reliance Partners.
Due to the ongoing trade war between the United States and China, coupled with COVID-19 disruptions, nearly $2 billion in daily trade flow across the U.S/Mexico border. The majority of cross-border thefts and hijackings occur within a 100-mile radius of Nuevo Laredo in Mexico, just south of the Laredo, Texas border and many shippers are ill-prepared for the “Wild West” of Mexico laws when trying to recover freight losses. Without the proper border and customs cargo insurance, the unplanned costs of theft, hijacking, or lost/damaged cargo south of the border go up exponentially.
Sunset partners with the best insurance providers for both transportation and customs insurance to protect our customers in and out of Mexico. We strongly recommend insuring high-value or high-risk shipments for our customers, in addition to the regular cargo insurance offered. Please contact our cross-border team to discuss at [email protected]
Read the full FreightWaves article HERE.