Insurers increasingly are concerned about the rise in theft of cargo during transportation and in warehouses in Brazil.
Thieves have been targeting electronic goods such as mobile phones, laptops and computer products, as selling these at a price less than the normal price-range presents a lucrative business, reports Segs.com.br.
Electronics theft in Brazil exceeds BRL 100 million ($49 million) and some insurers have refused to offer coverage.
Insurers sometimes require armed escorts and tracking devices.
Brazil has three main mandatory insurance classes for such risks: shipping insurance national road risks, mandatory for the cargo owners; mandatory insurance of civil liability of the carrier vehicle; and the optional liability insurance diversion load. Read more.