The International Air Cargo Association or TIACA is calling on the insurance markets to relax some of the stringent procedures and financial penalties in place when flying to Syria as a sanctioned state considered as a war zone. The move comes following the tragic earthquake events in southern Türkiye and northern Syria, where the air cargo industry has coordinated immediate response to form humanitarian airbridges and transport relief aid to affected areas. “We urge the … [Read more...] about TIACA urges support on Türkiye-Syria relief aid
insurance
UPS Capital names Ronald Chang as president
Ronald Chang, currently vice president of UPS Capital Corporation, has been named president of UPS Capital. This business unit of UPS enables smarter trade through cargo and parcel insurance, trade finance and payment services. Chang succeeds Bob Bernabucci, who will retire from the company after 41 years. "We are grateful to Bob for his loyal service and contribution to our company," said Kurt Kuehn, UPS chief financial officer. "He's built a strong portfolio of products for UPS Capital … [Read more...] about UPS Capital names Ronald Chang as president
Insurance alternative to bank guarantees: The Thai experience
Beginning of the year 2001, IATA raised concerns over the aggregated sales volume generated in a period of 30 days by agents far exceeding the current financial collateral at the time. As a result IATA proposed to increase amount of bank guarantees, in order to protect IATA airlines from exposure tofinancial risks. Realising the financial burden upon member agents, the Thai Airfreight Forwarder Association – TAFA consulted with Airlines Cargo Business Cargo – ACBA (known as ACP … [Read more...] about Insurance alternative to bank guarantees: The Thai experience
