Cargo transport claims drop 6.3%

Total claims paid out for cargo transport accidents fell 6.3% in the first quarter this year compared to the same period in 2003, local press reported. Mexican insurance association AMIS reported having paid a total of 1.2mn pesos (US$105,000) for cargo accidents, which represents 23.8% of the total payments registered (5.1mn pesos) for the automotive sector. While the figures may seem positive for AMIS, the entity pointed out that only 25% of the cargo transport that circulates in Mexico has theft or accident insurance. Reasons given for the high incidence (75%) of uninsured cargo on the roads were the high costs as a percentage of freightage rates and the large number of prerequisites that hauliers must comply with to qualify for insurance.