A newly effective federal port security law could have far-reaching effects on inland marine transport and its coverage, possibly delaying shipments, the head of the Inland Marine Underwriting Association warned.
Ronald Thornton, president and chief executive officer of IMUA, told National Underwriter there would be some effect on truckers going in and out of the ports, and it could create some delays in transit.
Mr. Thornton said that while it most likely will not affect coverages or pricing, “if there are delays caused by this in the supply chain, if there are issues where merchandise gets stopped or delayed, then it's a whole new ballgame.”
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.