Contguard News
2 articles
Neutral
How will insurers cover shippers with containers stranded across the world? - The Loadstar
The article discusses the impact of Covid-19 on marine cargo insurance. It explains how the pandemic has led to containers being stranded around the world, increasing demurrage and detention charges. The article also discusses how insurance policies may or may not cover these charges and the potential remedies available to cargo owners. It further discusses the implications of force majeure declarations by ocean carriers or port facilities, and the potential for business interruption coverage. The article is a guest post by Jose Guerrero, president of Virtual Claims Services.
Customers
growth-positive
Citi invests in supply-chain shipment co Contguard
Israeli supply-chain shipment monitoring and business-intelligence services provider Contguard has received investment from Citi Ventures and Canaan Partners Israel. The financial details of the investment were not disclosed. The funds will be used to build and scale Contguards technology to improve insights into product shipments in the international trade industry. Contguard estimates that over $0.5 trillion of manufactured goods are in transit without supply-chain oversight, resulting in inefficiencies and losses. The company offers IoT-enabled shipment monitoring, data, and business intelligence to optimize the supply chain. Contguard serves Fortune 500 customers in various industries and plans to accelerate technology development, expand sales and support activities, and develop partnerships with banks and insurance companies.
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