gCaptain Article: Marine Insurers Urged to Address Modern Slavery Risks in Global Maritime Supply Chains
The International Union of Marine Insurance (IUMI) has published a new Information Paper calling on marine insurers to heighten their vigilance against modern slavery and forced labor risks throughout maritime and global supply chains. With an estimated 28 million people affected by modern slavery, IUMI warns that insurers face increasing reputational and legal risks if they underwrite operations linked to exploitative labor practices. The organization recommends robust due diligence during underwriting, clear ESG policies on human rights, and industry collaboration to improve transparency. This proactive stance is increasingly important as regulations like the EU Corporate Sustainability Due Diligence Directive and the UK Modern Slavery Act hold companies and their financial partners accountable for abuses in their supply chains.
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Original Article from gCaptain | Article Author: Mike Schuler
gCaptain Article: Marine Insurers Urged to Address Modern Slavery Risks in Global Maritime Supply Chains


