Cargo transport coverage in Latin America presents challenges due to high risks of crime and infrastructure problems in the region. Crime rates for hijacking and theft of cargo in transit are among the highest in the world, costing over $1 billion per year in countries like Brazil. Insurers find it difficult to remain profitable providing cargo coverage due to low rates, high loss risks, and costs associated with loss prevention. They are using more specific policy wording around security requirements to safeguard themselves from losses. Customers are also key - insurers focus on understanding customer risks and recommending practices to reduce losses from human errors and other causes.
Piracy - An Ancient Risk With Modern FacesOpen Knowledge
The document discusses piracy trends in the first quarter of 2009. It notes that while piracy has increased dramatically in Somalia and the Gulf of Aden, it has declined in other areas like Southeast Asia. Specifically, there was a near doubling of ship attacks in Somalia compared to the same period in 2008. However, countries like Indonesia cooperated to reduce piracy in the Malacca Strait, demonstrating that coordinated responses can help address the problem in some regions. The shift to Somalia is concerning since that country lacks an effective government able to police piracy in the same way as Indonesia and other Southeast Asian nations.
The document discusses several topics related to marine risks and insights from claims:
1) World trade saw major declines during the recession but recovered strongly in 2010, led by growth in Asian markets. Continued globalization brings new challenges for supply chain management.
2) Compliance with insurance regulations is increasingly important as countries enforce rules to protect domestic markets and raise revenue. Multinational insurers can help ensure local compliance.
3) During economic downturns, cost cutting can reduce safety and increase claims from issues like inadequate crewing or maintenance. Lessons from claims show a shift from minor pilferage to major cargo thefts by organized criminal gangs.
This document summarizes Gerardo Borromeo's presidency of InterManager from 2012 to 2016. Some key accomplishments included:
- Growing InterManager's membership and role in the maritime community
- Developing the Shipping KPI benchmarking tool to compare ship performance on factors like safety, efficiency, and compliance
- Coordinating relief efforts for seafarers affected by Typhoon Haiyan in the Philippines in 2013
- Launching the International Shipowning and Shipmanagement Summit in 2014 to discuss industry issues
- Organizing workshops on rescuing large numbers of people at sea, an increasingly important issue
This document provides an overview of the legal requirements for robbery. It defines robbery as theft plus the use or threat of force. The key elements of robbery are: (1) all elements of theft must be present; (2) the defendant must intend to use or threaten force against another person; and (3) the force or threat of force must be used immediately before or at the time of the theft in order to carry out the theft. Several cases are discussed that illustrate these elements, such as the level of force required and the timing of the force in relation to the theft.
This document discusses the legal definition and elements of the crime of robbery in the UK. It begins with a brief introduction comparing a stereotypical bank robbery to accidentally bumping into someone on the subway and taking their metro card.
The main points are:
1) Robbery is defined in the Theft Act 1968 as stealing while using or threatening force on another person in order to commit the theft.
2) All elements of theft must be present for robbery, plus the use or threat of force on any person, whether or not they are the owner of the stolen property.
3) The force or threat must be used immediately before or during the theft, not after, in order to facilitate the theft
Standard Operating Procedure (SOP) for Information Technology (IT) OperationsRonald Bartels
Title of SOP
Dates
Issue date
Effective date
Document history
Approvals
Description
Purpose and background
Scope
Definitions
Operations
Maintenance
Projects
Business justification and project request form
Project Lite methodology (mini projects)
Large projects
Fulfilment
Example - Video conferencing
Quality and targets
Vital functions affected by this SOP
Lessons learned
Record and Document Management
References
Standards
Images
Diagrams
Equipment, hardware and software lists
Labelling and naming standards
Checklists
Installation
Configuration
Testing
Financial
Budget exception / deviation
Risk
The CRAMM Risk management methodology
Meerkat Risk Methodology
Information Security
Physical security
Service Continuity
Risk evaluation and control
Business impact analysis
Develop continuity strategies
Emergency response and operations
Developing and implementing the BCP
Awareness and training program
Maintaining and exercising the BCP
Standards and guidelines
Escalations
Roles and responsibilities
The Uberfingers team leaders dashboard
Shifts
Training
Monitoring requirements
Change
Stakeholders
Request for change
Apply for testing
Configuration management database
Impact and risk assessment
Change Advisory Board (CAB)
Installation in testing
Test installation review
Testing in progress
Operational acceptance phase
Ready for live
Implementation in live
Go Live acceptance
Live
Integration with Service Desk
Change types
Vendors
Review and evaluation of vendors
Maintenance
Warranty
Handling Incidents and Troubleshooting procedures
The Expanded Incident Lifecycle
Service review
Meetings
Previous period
Performance review
Current issues
Peripheral issues
Grading of service desk interaction
Grading of service desk escalation
Checklist for SOP
Addendum
Service catalogue
Child piracy is an increasing problem according to a Canadian research group. Around 33% of pirates are estimated to be under 18 years old. The Dalhousie Marine Piracy Project is focusing on developing tailored responses to child piracy by examining operational responses, law, socioeconomics, and information management. They are creating guidelines for naval operators on safety protocols for engaging child pirates to help prevent psychological harm to operators. Their goal is to curb piracy by pressuring organizers who employ children through legal actions like the International Criminal Court.
The document discusses challenges facing the global shipping industry, including overcapacity, lack of transparency, and increasing regulations. It introduces BitNautic as a decentralized platform using blockchain technology to connect ship owners, carriers, and shippers. BitNautic aims to address issues like high freight rates, limited shipping options for small cargo, and difficulties finding the best rates through features like a cargo booking system, ship brokerage, cargo tracking, and escrow services.
Piracy - An Ancient Risk With Modern FacesOpen Knowledge
The document discusses piracy trends in the first quarter of 2009. It notes that while piracy has increased dramatically in Somalia and the Gulf of Aden, it has declined in other areas like Southeast Asia. Specifically, there was a near doubling of ship attacks in Somalia compared to the same period in 2008. However, countries like Indonesia cooperated to reduce piracy in the Malacca Strait, demonstrating that coordinated responses can help address the problem in some regions. The shift to Somalia is concerning since that country lacks an effective government able to police piracy in the same way as Indonesia and other Southeast Asian nations.
The document discusses several topics related to marine risks and insights from claims:
1) World trade saw major declines during the recession but recovered strongly in 2010, led by growth in Asian markets. Continued globalization brings new challenges for supply chain management.
2) Compliance with insurance regulations is increasingly important as countries enforce rules to protect domestic markets and raise revenue. Multinational insurers can help ensure local compliance.
3) During economic downturns, cost cutting can reduce safety and increase claims from issues like inadequate crewing or maintenance. Lessons from claims show a shift from minor pilferage to major cargo thefts by organized criminal gangs.
This document summarizes Gerardo Borromeo's presidency of InterManager from 2012 to 2016. Some key accomplishments included:
- Growing InterManager's membership and role in the maritime community
- Developing the Shipping KPI benchmarking tool to compare ship performance on factors like safety, efficiency, and compliance
- Coordinating relief efforts for seafarers affected by Typhoon Haiyan in the Philippines in 2013
- Launching the International Shipowning and Shipmanagement Summit in 2014 to discuss industry issues
- Organizing workshops on rescuing large numbers of people at sea, an increasingly important issue
This document provides an overview of the legal requirements for robbery. It defines robbery as theft plus the use or threat of force. The key elements of robbery are: (1) all elements of theft must be present; (2) the defendant must intend to use or threaten force against another person; and (3) the force or threat of force must be used immediately before or at the time of the theft in order to carry out the theft. Several cases are discussed that illustrate these elements, such as the level of force required and the timing of the force in relation to the theft.
This document discusses the legal definition and elements of the crime of robbery in the UK. It begins with a brief introduction comparing a stereotypical bank robbery to accidentally bumping into someone on the subway and taking their metro card.
The main points are:
1) Robbery is defined in the Theft Act 1968 as stealing while using or threatening force on another person in order to commit the theft.
2) All elements of theft must be present for robbery, plus the use or threat of force on any person, whether or not they are the owner of the stolen property.
3) The force or threat must be used immediately before or during the theft, not after, in order to facilitate the theft
Standard Operating Procedure (SOP) for Information Technology (IT) OperationsRonald Bartels
Title of SOP
Dates
Issue date
Effective date
Document history
Approvals
Description
Purpose and background
Scope
Definitions
Operations
Maintenance
Projects
Business justification and project request form
Project Lite methodology (mini projects)
Large projects
Fulfilment
Example - Video conferencing
Quality and targets
Vital functions affected by this SOP
Lessons learned
Record and Document Management
References
Standards
Images
Diagrams
Equipment, hardware and software lists
Labelling and naming standards
Checklists
Installation
Configuration
Testing
Financial
Budget exception / deviation
Risk
The CRAMM Risk management methodology
Meerkat Risk Methodology
Information Security
Physical security
Service Continuity
Risk evaluation and control
Business impact analysis
Develop continuity strategies
Emergency response and operations
Developing and implementing the BCP
Awareness and training program
Maintaining and exercising the BCP
Standards and guidelines
Escalations
Roles and responsibilities
The Uberfingers team leaders dashboard
Shifts
Training
Monitoring requirements
Change
Stakeholders
Request for change
Apply for testing
Configuration management database
Impact and risk assessment
Change Advisory Board (CAB)
Installation in testing
Test installation review
Testing in progress
Operational acceptance phase
Ready for live
Implementation in live
Go Live acceptance
Live
Integration with Service Desk
Change types
Vendors
Review and evaluation of vendors
Maintenance
Warranty
Handling Incidents and Troubleshooting procedures
The Expanded Incident Lifecycle
Service review
Meetings
Previous period
Performance review
Current issues
Peripheral issues
Grading of service desk interaction
Grading of service desk escalation
Checklist for SOP
Addendum
Service catalogue
Child piracy is an increasing problem according to a Canadian research group. Around 33% of pirates are estimated to be under 18 years old. The Dalhousie Marine Piracy Project is focusing on developing tailored responses to child piracy by examining operational responses, law, socioeconomics, and information management. They are creating guidelines for naval operators on safety protocols for engaging child pirates to help prevent psychological harm to operators. Their goal is to curb piracy by pressuring organizers who employ children through legal actions like the International Criminal Court.
The document discusses challenges facing the global shipping industry, including overcapacity, lack of transparency, and increasing regulations. It introduces BitNautic as a decentralized platform using blockchain technology to connect ship owners, carriers, and shippers. BitNautic aims to address issues like high freight rates, limited shipping options for small cargo, and difficulties finding the best rates through features like a cargo booking system, ship brokerage, cargo tracking, and escrow services.
In today's uncertain global environment, marine insurers are facing new challenges every day. In this Slideshare we take a look at the five emerging underwriting trends that are changing the rules in 2015.
Read More: http://www.genre.com/knowledge/blog/5-emerging-trends-in-marine-insurance-in-2015.html
This document summarizes maritime risks in the Americas region in 2015. It finds that while piracy and armed robbery continue to pose risks, underreporting is a problem. In 2014 there were 163 maritime incidents in the Americas, including 72 armed robberies and 43 thefts. Risks vary by locality, with South America facing more port and anchorage crime targeting large vessels, while North America sees more theft of small local vessels. Maritime activism through strikes and protests is also a risk. Port and anchorage crime, as well as drug and illegal mineral smuggling through ports, will remain issues, especially in South America. Inadequate port infrastructure is a constraint on growth throughout the region.
Shared some insights hot topics in container shipping supply chain by then "Crunch time approaching fast for ports and terminals as shipping alliances look to cut costs" Full edition at https://canadiansailings.ca/documents/weekly_issue/feb_2017/feb_20_2017.pdf
Common tactics to circumvent illegal border crossing, and effective deterrents of law enforcement to combat them.
When border security comes to mind, people typically think of long lines at border crossing stations, fence lines, and the reported apprehension of illegal immigrants. Although those quintessential images accurately depict daily life at the border, they certainly don’t tell the whole story.
Feature report "Rail risk - Stay on Track" | Aon NLAon Nederland
The international railway industry is enjoying a period of significant growth across the world. Europe's trans-continental mixture of state-owned and franchise operated networks continues its steady march towards the introduction of newer, faster trains and tracks, supported by increasingly sophisticated signalling and safety systems.
Unfortunately, 2013 has witnessed some serious accidents, and while they are mercifully rare, these occurrences show that rail industry firms' operational risk mitigation measures cannot exclude the possibility of large incidents.
Aon Global Risk Consulting has carried out extensive studies, revealing trends around pertinent issues. It is our belief that with more information at hand, risk managers within the railway industries can support the long term strategic goals of their businesses and maintain a commitment to safety.
Laredo Times Uk Mission Aritcle 04-2007Kornel G Rost
A delegation of 12 officials from four British security and investment companies visited Laredo to learn about the city and local border security challenges. They presented technologies for license plate recognition, sensors, radar and cameras. The meeting discussed economic opportunities for British companies to provide tested security technologies in the US, such as license plate recognition now used in Houston airports. The UK-Texas economic relationship is strong, with 400 UK companies employing over 90,000 people in Texas and $2 billion in annual imports/exports.
Navigating the Top Risks of Freight Transportation Services: Insights for Log...National Freight Logistics
In the dynamic landscape of logistics services, freight transportation plays a pivotal role in the movement of goods from manufacturers to consumers. However, this process is not without its challenges and risks. Understanding and mitigating these risks is essential for both logistics service providers and shippers to ensure the smooth operation of transportation services and maintain customer satisfaction.
https://www.nflfreight.com/blog/seven-top-risks-of-freight-transportation-services
What the Kidnapping & Ransom Economy Teaches Us About RansomwareJeremiah Grossman
Ransomware is center stage, as campaigns are practically guaranteed financial gain. Cyber-criminals profit hundreds of millions of dollars by selling our data back to us. If you look closely, the ransomware economic dynamics closely follow the real-world kidnapping and ransom industry. We’ll explore the eerie similarities, where ransomware is headed, and strategies we can bring to the fight.
This document discusses privacy and cybersecurity issues facing Carnival cruise lines. It summarizes three main headaches: rapidly changing regulations that require constant compliance updates, data proliferation as more data is collected just in case without a clear purpose, and the risk of human error compromising privacy. It provides examples of the many regulations Carnival must consider and the types of customer data models replicated across systems. The document advocates for a privacy-supporting culture to investigate root causes of incidents in order to take both proactive and reactive approaches to problem management and reduce risks to customer privacy.
The rise of the robot and the lie of resilienceGirija Shettar
1) The shipping industry is rapidly developing advanced technologies like autonomous systems, sensors, artificial intelligence and cyber connectivity on ships to increase efficiency.
2) However, these technologies also introduce new risks as ships become more dependent on computer systems and vulnerable to hackers, with the potential for ships to be hacked and used as weapons or deliberately crashed.
3) While technologies promise increased safety, efficiency and lower costs, there are concerns that fully cyber-enabled infrastructure can never be 100% safe and that overreliance on these systems could ultimately prove destructive if major cyber attacks or technical failures were to occur.
Piracy off the coast of Somalia has increased dramatically in recent years, with pirates capturing cargo ships and demanding large ransoms. The pirates are believed to be mostly former fishermen who now operate speedboats launched from larger "mother ships." There is ongoing debate about the pirates' links to terrorist groups in Somalia and whether measures like armed private security guards or military intervention can effectively address the problem. The piracy is damaging to the shipping industry and some experts warn it could spread instability across East Africa if not contained.
This document provides an annual review and analysis of trends in global shipping losses and safety in 2018. Some key points:
- Total shipping losses in 2017 declined slightly to 94, the second lowest number in a decade, down 4% from 2016. However, over 30% of losses occurred in the busy South China Sea region, which sees rough weather and has less stringent safety standards.
- Cargo ships accounted for over half of losses in 2017, with foundering as the cause of 61 losses, up from previous years. Bulk carriers and tankers also saw increased losses.
- Human error remains a factor in 75% of insurance claims worth $1.6 billion annually. New technologies like sensors and data analytics
Gramax-Cybersec-Role of Cybersecurity in Maritime A high-risk sector.pdfGramax Cybersec
Role of Cybersecurity in Maritime: A high-risk sector
Maritime, an ancient industry responsible carriage for 90% of global trade, stands as a cornerstone of the world economy. Despite initial perceptions that maritime assets are immune, the increased reliance on industrial control systems (ICS) and satellite communications renders this age-old industry susceptible to cyber adversaries. The reluctance to openly share information and collaborate on cybersecurity best practices has exacerbated the issue, leading to a surge in maritime cyber incidents, up by a staggering 900% since 2017. The NotPetya cyberattack in June 2017 stands out as one of the most devastating incidents, causing over $10 billion in damages. This malware, initially targeting Ukrainian companies, had a far-reaching impact, affecting global giants like Maersk, which lost significant data and infrastructure.
In this article, we will take you through the crucial role of cybersecurity in the maritime sector, offering insights into the intricacies of the maritime ecosystem, and identifying key vulnerable systems. Additionally, we will explore the far-reaching consequences of successful cyberattacks and effective strategies for cyber risk management in this high-stakes domain.
Jamestown Latin America | Trends + Views | Infrastructure Challenges in Latin...Ferhat Guven
Latin American economies require substantial improvement to physical infrastructure to raise potential GDP growth.
As macroeconomic stability has been achieved in the largest economies, the public sector now aims to prioritize microeconomic issues.
The region’s major economies must address inadequacies in the years to come, focusing on the quality of roads, railroads, bridges, airports, and ports.
Governments have started to prioritize the urgency of closing the infrastructure gap, by allocating more public resources for infrastructure and pursuing public-private partnerships.
Recently, there have been important strides made, with private capital increasingly attracted to investment opportunities in infrastructure projects in the region.
WIRED Consultingx Refinitiv_Making big data work for commodities_1.pdfFaisal638875
1) The document discusses how data from sources like AIS ship tracking and satellite imagery has transformed commodities trading by providing real-time information on global cargo movements.
2) It explains that while collecting vast amounts of data from various sources is now possible, the challenges are effectively analyzing and integrating different data types to generate useful insights.
3) Traders must now have the analytical tools and skills to leverage large and diverse datasets to understand commodity flows in high detail and make faster, more informed decisions in an increasingly automated industry.
The document discusses upcoming events related to Latin American ports and infrastructure. It announces that the 4th annual Latinports event will be held in May in Cancun, Mexico, jointly with two Mexican port organizations. It also notes that the Panama Canal Authority has become a new member of Latinports. Several upcoming meetings and discussions around port infrastructure investments and regulations in Latin America are also summarized.
In 3 sentences:
Transportation risks are unpredictable but can have major financial impacts, yet many companies do not utilize insurance as an effective risk mitigation tool. While carriers provide some liability coverage, it is often inadequate to cover high-value goods and does not protect against revenue losses from disruptions. The document recommends that companies understand how cargo insurance can help cover replacement costs and protect cash flows by insuring supply chains against unpredictable but potentially catastrophic losses.
Irina Bronshteyn Piracy Off The Coast Of SomaliaHAXAJlKA
This document discusses piracy off the coast of Somalia. It provides background on the root causes of piracy in Somalia, including poverty, lack of employment opportunities, and lack of a functioning central government. It then describes the nature and trends of piracy in the region, including the use of "mother ships" and increasingly sophisticated weapons and technology by pirates. The document applies routine activity theory to analyze piracy off Somalia's coast, explaining how the confluence of motivated offenders, suitable targets like ships, and lack of capable guardians enables criminal opportunities for piracy.
The document discusses the development of risk management as a profession. It notes that as risks have become more interconnected, elevating risk management standards through education and certification is important. The Federation of European Risk Management Associations (FERMA) has created a certification program to establish pan-European standards for training and practice. This program aims to bring greater professional recognition for risk managers and value to businesses.
More Related Content
Similar to Cargo risks Am Best Interview Luis Vitiritti
In today's uncertain global environment, marine insurers are facing new challenges every day. In this Slideshare we take a look at the five emerging underwriting trends that are changing the rules in 2015.
Read More: http://www.genre.com/knowledge/blog/5-emerging-trends-in-marine-insurance-in-2015.html
This document summarizes maritime risks in the Americas region in 2015. It finds that while piracy and armed robbery continue to pose risks, underreporting is a problem. In 2014 there were 163 maritime incidents in the Americas, including 72 armed robberies and 43 thefts. Risks vary by locality, with South America facing more port and anchorage crime targeting large vessels, while North America sees more theft of small local vessels. Maritime activism through strikes and protests is also a risk. Port and anchorage crime, as well as drug and illegal mineral smuggling through ports, will remain issues, especially in South America. Inadequate port infrastructure is a constraint on growth throughout the region.
Shared some insights hot topics in container shipping supply chain by then "Crunch time approaching fast for ports and terminals as shipping alliances look to cut costs" Full edition at https://canadiansailings.ca/documents/weekly_issue/feb_2017/feb_20_2017.pdf
Common tactics to circumvent illegal border crossing, and effective deterrents of law enforcement to combat them.
When border security comes to mind, people typically think of long lines at border crossing stations, fence lines, and the reported apprehension of illegal immigrants. Although those quintessential images accurately depict daily life at the border, they certainly don’t tell the whole story.
Feature report "Rail risk - Stay on Track" | Aon NLAon Nederland
The international railway industry is enjoying a period of significant growth across the world. Europe's trans-continental mixture of state-owned and franchise operated networks continues its steady march towards the introduction of newer, faster trains and tracks, supported by increasingly sophisticated signalling and safety systems.
Unfortunately, 2013 has witnessed some serious accidents, and while they are mercifully rare, these occurrences show that rail industry firms' operational risk mitigation measures cannot exclude the possibility of large incidents.
Aon Global Risk Consulting has carried out extensive studies, revealing trends around pertinent issues. It is our belief that with more information at hand, risk managers within the railway industries can support the long term strategic goals of their businesses and maintain a commitment to safety.
Laredo Times Uk Mission Aritcle 04-2007Kornel G Rost
A delegation of 12 officials from four British security and investment companies visited Laredo to learn about the city and local border security challenges. They presented technologies for license plate recognition, sensors, radar and cameras. The meeting discussed economic opportunities for British companies to provide tested security technologies in the US, such as license plate recognition now used in Houston airports. The UK-Texas economic relationship is strong, with 400 UK companies employing over 90,000 people in Texas and $2 billion in annual imports/exports.
Navigating the Top Risks of Freight Transportation Services: Insights for Log...National Freight Logistics
In the dynamic landscape of logistics services, freight transportation plays a pivotal role in the movement of goods from manufacturers to consumers. However, this process is not without its challenges and risks. Understanding and mitigating these risks is essential for both logistics service providers and shippers to ensure the smooth operation of transportation services and maintain customer satisfaction.
https://www.nflfreight.com/blog/seven-top-risks-of-freight-transportation-services
What the Kidnapping & Ransom Economy Teaches Us About RansomwareJeremiah Grossman
Ransomware is center stage, as campaigns are practically guaranteed financial gain. Cyber-criminals profit hundreds of millions of dollars by selling our data back to us. If you look closely, the ransomware economic dynamics closely follow the real-world kidnapping and ransom industry. We’ll explore the eerie similarities, where ransomware is headed, and strategies we can bring to the fight.
This document discusses privacy and cybersecurity issues facing Carnival cruise lines. It summarizes three main headaches: rapidly changing regulations that require constant compliance updates, data proliferation as more data is collected just in case without a clear purpose, and the risk of human error compromising privacy. It provides examples of the many regulations Carnival must consider and the types of customer data models replicated across systems. The document advocates for a privacy-supporting culture to investigate root causes of incidents in order to take both proactive and reactive approaches to problem management and reduce risks to customer privacy.
The rise of the robot and the lie of resilienceGirija Shettar
1) The shipping industry is rapidly developing advanced technologies like autonomous systems, sensors, artificial intelligence and cyber connectivity on ships to increase efficiency.
2) However, these technologies also introduce new risks as ships become more dependent on computer systems and vulnerable to hackers, with the potential for ships to be hacked and used as weapons or deliberately crashed.
3) While technologies promise increased safety, efficiency and lower costs, there are concerns that fully cyber-enabled infrastructure can never be 100% safe and that overreliance on these systems could ultimately prove destructive if major cyber attacks or technical failures were to occur.
Piracy off the coast of Somalia has increased dramatically in recent years, with pirates capturing cargo ships and demanding large ransoms. The pirates are believed to be mostly former fishermen who now operate speedboats launched from larger "mother ships." There is ongoing debate about the pirates' links to terrorist groups in Somalia and whether measures like armed private security guards or military intervention can effectively address the problem. The piracy is damaging to the shipping industry and some experts warn it could spread instability across East Africa if not contained.
This document provides an annual review and analysis of trends in global shipping losses and safety in 2018. Some key points:
- Total shipping losses in 2017 declined slightly to 94, the second lowest number in a decade, down 4% from 2016. However, over 30% of losses occurred in the busy South China Sea region, which sees rough weather and has less stringent safety standards.
- Cargo ships accounted for over half of losses in 2017, with foundering as the cause of 61 losses, up from previous years. Bulk carriers and tankers also saw increased losses.
- Human error remains a factor in 75% of insurance claims worth $1.6 billion annually. New technologies like sensors and data analytics
Gramax-Cybersec-Role of Cybersecurity in Maritime A high-risk sector.pdfGramax Cybersec
Role of Cybersecurity in Maritime: A high-risk sector
Maritime, an ancient industry responsible carriage for 90% of global trade, stands as a cornerstone of the world economy. Despite initial perceptions that maritime assets are immune, the increased reliance on industrial control systems (ICS) and satellite communications renders this age-old industry susceptible to cyber adversaries. The reluctance to openly share information and collaborate on cybersecurity best practices has exacerbated the issue, leading to a surge in maritime cyber incidents, up by a staggering 900% since 2017. The NotPetya cyberattack in June 2017 stands out as one of the most devastating incidents, causing over $10 billion in damages. This malware, initially targeting Ukrainian companies, had a far-reaching impact, affecting global giants like Maersk, which lost significant data and infrastructure.
In this article, we will take you through the crucial role of cybersecurity in the maritime sector, offering insights into the intricacies of the maritime ecosystem, and identifying key vulnerable systems. Additionally, we will explore the far-reaching consequences of successful cyberattacks and effective strategies for cyber risk management in this high-stakes domain.
Jamestown Latin America | Trends + Views | Infrastructure Challenges in Latin...Ferhat Guven
Latin American economies require substantial improvement to physical infrastructure to raise potential GDP growth.
As macroeconomic stability has been achieved in the largest economies, the public sector now aims to prioritize microeconomic issues.
The region’s major economies must address inadequacies in the years to come, focusing on the quality of roads, railroads, bridges, airports, and ports.
Governments have started to prioritize the urgency of closing the infrastructure gap, by allocating more public resources for infrastructure and pursuing public-private partnerships.
Recently, there have been important strides made, with private capital increasingly attracted to investment opportunities in infrastructure projects in the region.
WIRED Consultingx Refinitiv_Making big data work for commodities_1.pdfFaisal638875
1) The document discusses how data from sources like AIS ship tracking and satellite imagery has transformed commodities trading by providing real-time information on global cargo movements.
2) It explains that while collecting vast amounts of data from various sources is now possible, the challenges are effectively analyzing and integrating different data types to generate useful insights.
3) Traders must now have the analytical tools and skills to leverage large and diverse datasets to understand commodity flows in high detail and make faster, more informed decisions in an increasingly automated industry.
The document discusses upcoming events related to Latin American ports and infrastructure. It announces that the 4th annual Latinports event will be held in May in Cancun, Mexico, jointly with two Mexican port organizations. It also notes that the Panama Canal Authority has become a new member of Latinports. Several upcoming meetings and discussions around port infrastructure investments and regulations in Latin America are also summarized.
In 3 sentences:
Transportation risks are unpredictable but can have major financial impacts, yet many companies do not utilize insurance as an effective risk mitigation tool. While carriers provide some liability coverage, it is often inadequate to cover high-value goods and does not protect against revenue losses from disruptions. The document recommends that companies understand how cargo insurance can help cover replacement costs and protect cash flows by insuring supply chains against unpredictable but potentially catastrophic losses.
Irina Bronshteyn Piracy Off The Coast Of SomaliaHAXAJlKA
This document discusses piracy off the coast of Somalia. It provides background on the root causes of piracy in Somalia, including poverty, lack of employment opportunities, and lack of a functioning central government. It then describes the nature and trends of piracy in the region, including the use of "mother ships" and increasingly sophisticated weapons and technology by pirates. The document applies routine activity theory to analyze piracy off Somalia's coast, explaining how the confluence of motivated offenders, suitable targets like ships, and lack of capable guardians enables criminal opportunities for piracy.
Similar to Cargo risks Am Best Interview Luis Vitiritti (20)
The document discusses the development of risk management as a profession. It notes that as risks have become more interconnected, elevating risk management standards through education and certification is important. The Federation of European Risk Management Associations (FERMA) has created a certification program to establish pan-European standards for training and practice. This program aims to bring greater professional recognition for risk managers and value to businesses.
This document discusses risks associated with heavy lift and project cargo shipping. It emphasizes the importance of understanding cargo characteristics like size, weight, center of gravity, and needs. A thorough risk assessment should analyze infrastructure, equipment, transportation routes, weather conditions, and human factors. Key recommendations include requesting basic cargo information, preparing a project schedule, engaging risk engineering support for calculations, and carefully planning loading, lifting, and transport of critical items. Safety is paramount, and proper personal protective equipment, risk analysis, and toolbox talks should be used. Overall planning and understanding each unique cargo are essential to managing risks.
As 18 recomendações focam na melhoria da logística e transporte de cargas, cobrindo tópicos como tipo de motorista, treinamento, segurança no armazém, checklist veicular e tempo de jornada do motorista.
Luis Vitiritti is a risk consultant for Zurich in Latin America specializing in risk management services including risk analysis, loss prevention, security, and risk improvement reports. He has over 20 years of experience in insurance, consulting brokers and clients in Brazil, Latin America, and internationally. Some of his responsibilities include reducing expenses with vendors, giving presentations on security and loss prevention, and supporting over 30 clients in risk consulting. He has a business management degree and professional certifications in risk engineering and management.
loss prevention clause in inland marine riskLuis Vitiritti
This document discusses the use of loss prevention clauses in inland marine insurance policies to protect customers and insurers. It recommends including mandatory clauses requiring risk management programs and security measures be followed to minimize theft and secure shipments. Following these clauses and having transparency across customers, insurers, and vendors will help control losses and protect all parties' balance sheets by improving cargo delivery rates and reducing claim costs. The document provides examples of how risk management companies can monitor shipments and ensure all parties comply with the policy conditions and loss prevention programs.
A REP Transportes foi criada para transportar produtos de alto valor com segurança. Eles desenvolveram um sistema integrado de rastreamento e segurança para caminhões e semirreboques que dificulta roubos, incluindo blindagem eletrônica, rastreadores redundantes e portas blindadas com travas controladas remotamente. O sistema permite transportar cargas valiosas sem escolta armada, reduzindo custos.
Zurich Risk Engineer - Foco no Cliente - Marcus Evans Event Luis Vitiritti
O documento fornece um resumo da visita de uma empresa de engenharia de riscos a um cliente para avaliação de riscos, recomendações e melhorias. A visita incluiu avaliação dos terminais, armazéns e procedimentos de transporte marítimo do cliente, resultando em recomendações específicas para fatores de risco.
In the 1980s, cargo theft in Brazil increased due to fraud involving truck drivers. Insurers and vendors began closely vetting drivers and including risk management clauses in policies, reducing losses by 50%. Through the 1990s and 2000s, criminals adapted so clauses evolved to require GPS tracking and signed prevention programs. Now Brazil has over 200 cargo protection vendors and 50 tracking manufacturers, showing risk management clauses have helped insurers take on risks and customers prioritize security.
This document provides information on Luis Vitiritti including his contact details, background, education, professional experience, areas of expertise, clients supported, and research involvement. It summarizes that Luis is a Marine Risk Manager and Customer Manager for Zurich Brasil Seguros based in São Paulo, Brazil, with over 10 years of experience in marine and property risk management, loss prevention, and supply chain protection consulting. He provides risk assessments, surveys, and loss prevention recommendations to global and Latin American clients.
Zurich Risk Engineering Luis Vitiritti forum de navegacao 30 08 2011Luis Vitiritti
1) O documento compara os riscos e benefícios do transporte aquaviário e rodoviário, discutindo fatores como frequência de viagens, quantidade de carga e concentração de riscos.
2) É recomendado analisar cada caso individualmente levando em conta fatores como qualidade, risco, quantidade e prazo de entrega para escolher a melhor opção logística.
3) A engenharia de riscos pode ajudar a mitigar os riscos através de análises, vistorias, embalagens adequadas e escolha
O documento fornece conselhos sobre como encontrar um emprego, incluindo:
1) Analisar suas forças e fraquezas e o que você deseja fazer;
2) Fazer contatos pessoais para obter informações sobre oportunidades;
3) Desenvolver um plano claro com objetivos e estratégia de busca de emprego.
Risk Management Standard Portuguese - The IRM, AIRMC, FERMALuis Vitiritti
Este documento apresenta uma norma para a gestão de riscos desenvolvida por organizações de gestão de riscos do Reino Unido. A norma descreve o que é risco e gestão de riscos, e fornece diretrizes sobre como identificar, avaliar, analisar e tratar riscos. O objetivo é ajudar as organizações a gerir riscos de forma estruturada e integrada à estratégia, melhorando a tomada de decisões e a eficiência operacional.
1) This document presents a Risk Management Standard published jointly by three major risk management organizations in the UK. It provides terminology, processes, organizational structures, and objectives for effective risk management.
2) The standard recognizes that risk management involves both upside opportunities and downside threats. It should be integrated into an organization's culture and strategy to help achieve objectives. The core components of the risk management process include risk identification, analysis, evaluation, and treatment.
3) Risks can stem from external and internal factors and be categorized as strategic, financial, operational, hazard or compliance-related. A risk profile prioritizes risks to focus treatment efforts. Communication of risks and risk management performance is important for internal and external
The document provides basic advice for securing cargo containers on ships to prevent damage and loss overboard in heavy weather. It recommends checking stack weights, lashing plans, lashing equipment for defects, and container integrity. Additional lashings should be added for heavy stacks or expected bad weather. Isolated or uneven stacks should be avoided, as well as heavy containers above light ones. Lashing systems should be kept simple using high-rated components, and precise instructions given to shore lashing gangs.
O documento discute os desafios do transporte rodoviário no Brasil, como longas distâncias, infraestrutura precária e jornadas de trabalho excessivas para motoristas. A maioria dos acidentes ocorre por falha humana, sendo necessário investir em treinamento e condições de trabalho para motoristas. A seguradora Chubb oferece consultoria para prevenção de riscos e sinistros, melhorando a segurança no transporte.
O documento discute soluções de gestão de riscos para a cadeia de suprimentos. Ele aborda conceitos de gestão de risco, análise de cargas, métodos de identificação de riscos, sinistros comuns, propostas de melhoria e a importância de uma abordagem integrada entre logística, segurança e seguros.
Embora os combustíveis não sejam o produto mais visado por quadrilhas, o roubo de cargas de combustível causa grandes prejuízos ao mercado, já que o combustível roubado é vendido de forma irregular e concorre deslealmente. É essencial que transportadores de combustíveis invistam em tecnologia e procedimentos de segurança para minimizar os riscos e danos do roubo de cargas.
Dicas de empregabilidade luis vitiritti julho 2011Luis Vitiritti
1) O documento fornece dicas sobre empregabilidade, crescimento pessoal e profissional.
2) É recomendado refletir sobre si mesmo, fazer análises SWOT, e planejar uma estratégia clara para buscar oportunidades de acordo com seus valores.
3) É importante fazer contatos pessoais, pesquisar sobre as empresas, e se adaptar às regras e cultura corporativa quando necessário.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
Building Your Employer Brand with Social MediaLuanWise
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1. Property/Casualty
Highways
And Robbery
Crime and infrastructure problems make cargo
transport coverage challenging in Latin America.
by Kate Smith
W hen truck drivers pull
to the side of the road
in Sao Paulo, they are at
risk of hijacking. When they stop
to eat at a rest stop in Monterrey,
Erika Schoch, the regional marine
director of Latin America for Swiss Re,
said cargo lines generated approxi-
mately $1.8 billion in 2011. And as
trade increases, so too will the line’s
Mexico, they are at risk of hijacking. importance.
When they pull out of a toll booth “It’s a very important line of busi-
slowly, they are at risk of hijacking. ness nowadays in Latin America,” she
Latin America may be one of the said. “In most of the countries, marine
fastest-growing markets, but it is also is probably the third- or fourth-largest
one of the most dangerous places line on the non-life side of business.”
Key Points
for cargo transport. Given its ever-changing perils,
“If you look at our cargo theft however, it is not a line that is easily M Risky Business: Cargo transport
lines are volatile in Latin America.
maps, Latin America would have the written.
The Problem Areas: Crime
M
highest risk in the world,” said Ron “It’s very difficult to be profit-
able, but it’s also more challenging,” and infrastructure are particularly
Greene, vice president of global oper-
problematic in the region.
ations and strategy for FreightWatch Schoch said. “You have to be careful,
The Written Word: Insurers are using
M
International. “Brazil, in my opinion, you have to know the market, you
stricter policy wording to safeguard
has some of the most advanced crimi- have to really show your technical
themselves.
nals targeting cargo. It has become a skills. Those who know how to put
really big problem, costing a billion the right exclusion in the right place between the driver and the criminal.
dollars a year.” in the right policy are the ones who That is opposite of the U.S., where
As the economies of Latin America can really make money. 95-plus percent of the shipments sto-
have grown, so too has the demand “If you are not a real marine under- len are stolen while unattended.”
for inland marine coverage—particu- writer and don’t have the technical In 2001, robbery had become so
larly cargo transport cover. But in a skills, you cannot be successful in the prevalent in Mexico that insurers esti-
region riddled with risks, insurers are Latin American market.” mated one out of every three cargo
finding it difficult to stay profitable. vessels would be stolen, Schoch said.
“It has historically been one of ‘Inside’ Jobs The situation worsened to the point
the lines with the least margin in the FreightWatch International, a where some insurers refused to pro-
region, mirroring the international Texas-based logistics security ser- vide cover for ground transportation,
experience,” James Grieve, chief vices company, counts Brazil and she added.
underwriting officer and regional Mexico among the top three coun- The introduction of telematics,
manager for Latin America and the tries in the world (along with South including global positioning systems,
Caribbean for Scor Reinsurance, said Africa) for cargo theft risk. Hijacking, trailer detachment sensors and radio
of cargo lines. “Such result is driven overwhelmingly, is the most com- frequency identification devices, has
by a sad combination of low rates, a mon modus operandi. helped stabilize the problems. But
high loss burden (significant theft risk “We do see in Latin America the even today such technology is not
and poor infrastructure), high com- use of force is very common,” Greene universally required or used.
missions and cost of loss-prevention said.“Probably 90% of the time a ship- Only 14% of the 2.3 million
measures.” ment is stolen, there is interaction cargo-carrying trucks in Brazil are
BEST’S REVIEW • DECEMBER 2012 23
2. Property/Casualty
equipped with onboard technology Though the region has a reputa- on roads, and roads mean trucks,” more and create some good practices
to prevent robberies or recover tion for high incidence of cargo Vitiritti said. “Latin America is a by the customers related to their own
stolen shipments, according to crime, robbery and theft are not the huge market for road transporta- risk, probably in the early future they
Telematics Update. only risks customers face. Luis Vitiritti, tion. Some of the roads are good, will decrease their losses.”
“The vast majority of the time, a marine risk consultant for Zurich some of the roads are not so good. Insurers are safeguarding them-
the customer has felt pain from a in Brazil, said losses can be broken We have mountains, we have a lot selves by becoming more specific in
theft event before they invest in down into three categories. of people and a lot of concentra- their policy wording.
security,” said Greene, whose com- “A third of losses could be from tion in the main cities. There are “We enhanced the quality of the
pany provides real-time monitoring robbery, a third could be from dam- huge cities, a lot of cargo concen- wording, making the contract more
of shipments. “They’ve had a ship- ages and a third could be from acci- tration and a lot of terminals. specific related to security, and then
ment stolen or two before they dents,” he said. “There are a lot of cargo concen- these rules and wording clauses
react and invest.” Losses from damages are not trations and ports and terminals that change from a recommendation to
Thieves, particularly those in unique to Latin America and often need to improve. It means in Latin an obligation,” Vitiritti said. “It means
Brazil, are finding ways to circum- can be addressed simply with packag- America we need investments in that if, for example, you would like to
vent technology.The use of GPS jam- ing solutions. these. Infrastructure is a huge topic carry electronics [worth] more than
mers, though not yet widespread, is Accidents, however, are of particu- and a huge need also.” $500k in Latin America, you must
on the rise. lar concern in the region, as 60% of have an electronic device tracking
“Unfortunately, robbers these cargo is transported via highway. Moving Targets the truck, an electronic device track-
days are very sophisticated,” Schoch “The original problem is the lack One of the biggest challenges of ing the cargo, not only as a recom-
said. “As soon as there is a new loss- of a network of regularly dredged riv- cargo coverage, experts say, is that mendation but as an obligation to
prevention measure, they learn from ers, as well as the lack of develop- the product is always moving, which follow the contract.
it. There is a phrase in Latin America ment and maintenance of a railroad means underwriters need to under- “Then if the customer faces a loss,
that is very famous: ‘You make the network,” Grieve said. stand all of the risks the product will the customer needs to prove they
law, and I’ll see how to go against it.’” “Given this situation, roads are face on its journey. had that solution as it was written
In order to keep a step ahead, naturally saturated and transited by “It’s a very dynamic market, which in black and white in the contract
insurers must stay abreast of robbery vehicles exceeding the weights fore- makes it very interesting,” Schoch in order to receive that money back.
trends and adjust their underwrit- seen at the time of the construction said. “But if you don’t have the knowl- This is the main way here. We are
ing accordingly. For example, half of of the roads, which contributes to edge, it can also be very dangerous reinforcing these contracts better
all cargo crime in Brazil takes place the deterioration. We shouldn’t forget to be there. So day by day you have than in the past.
in Sao Paulo state, according to esti- that the latter is the most expensive to improve all your loss prevention “So I think, as a Latin America con-
mates from Cargo Transporters Union transportation while the former two measures.” sultant, that we are even better than
of the Sao Paulo State, and Greene are cheaper, which also erodes the Clients are a critical ingredient in the U.S. and Europe at dealing with
said certain Sao Paulo highways aver- region’s competitive position.” that formula. these types of things. In the U.S., I’m
age nearly one hijacking per week. The infrastructure in Latin America “The challenge is to find the good not seeing insurance contracts with
has not kept pace with the rapid apples,” Vitiritti said. “A good cus- as specific rules as we have here.
Road Work growth. The roads are congested, par- tomer is one that knows their risks, But if you look at statistics in the U.S.
According to FreightWatch data, ticularly in the urban areas that serve knows how to handle the risk and related to robbery, it’s huge. Super
Monterrey had the highest volume as both the origin and destination knows how to minimize or even huge. So insurers in the U.S. have
of cargo theft in Mexico in the first of most transported products, and eliminate part of the risk.” now opened their eyes and in the
two quarters of 2012, and its state, many of the roads are ill-equipped to Vitiritti’s focus at Zurich is on future probably will try to learn from
Nuevo Leon, had a country-high 105 handle the volume of cargo they are understanding a customer’s risks and our expertise how to handle high-risk
hijackings. now seeing. making recommendations as to how cargo in complex situations.” BR
Underwriters can use such In the past two years, imports in a client can minimize those risks in
information to determine whether Brazil increased by an average of 23% order to prevent losses. Learn More
to require route planning, armed while exports grew by 8%, accord- “We are not analyzing only the
escorts or convoys in their policy ing to World Bank data. In Mexico, customer’s behavior in terms of cargo Zurich Insurance Group Ltd.
A.M. Best Company # 86976
wording. Another common theft the region’s second-largest economy handling, but also where is the com-
Distribution: Multichannel
prevention measure is the use of behind Brazil, imports were up 16.5% plexity of their transportation, how
Swiss Reinsurance
unmarked trucks. and exports 17% over the same period. they handle the management of con- A.M. Best Company # 85009
“In Mexico, the trucks are white, The growing import/export tracts, how they handle problems, Distribution: Direct
so you cannot distinguish them,” markets have strained the region’s how they control packaging and Scor S.E.
Schoch said. “They don’t say Pana- roadways. “Accidents on the road loading/unloading the product from A.M. Best Company # 86155
sonic, ‘I have TVs here.’ But the rob- are extremely important when you vessels, how they track the cargo. Distribution: Direct and reinsurance brokers
bers know there is something they are talking about Latin America “We know 70% of losses are For ratings and other financial strength information
visit www.ambest.com.
are interested in.” because 60% of our voyages are caused by human error. So if we think
24 BEST’S REVIEW • DECEMBER 2012 BEST’S REVIEW • DECEMBER 2012 25