Spurious claims of fraud in cargo deals by trade credit insurers are disrupting shipping supply chains, according to a Singapore lawyer.
Watson Farley & Williams (WFW) partner Sumeet Malhotra told TradeWinds that reputable underwriters have developed a “narrative” of dishonesty in the sector following high-profile cases of fraud involving traders such as Hin Leong and Agritrade.
Insurers quite rightly refused to pay in these cases.
