Switching From Paper to Electronic Bills of Lading
For both the maritime and marine insurance industries, the introduction of the electronic bill of lading (eBOL) has been hailed as a means of minimising traditional, paper-based frauds.
Despite these efforts, however, there is much disquiet surrounding the usage of eBOLs. As with any comparatively new concept, there is uncertainty regarding possible risk exposures.
Our latest report, Switching From Paper to Electronic Bills of Lading, hopes to offer guidance from an insurance perspective, reviewing the effect of eBOLs and their impact on the prevalence of fraud in the maritime and marine industries. It explores:
- The traditional problems of paper bills, and the emergence and acceptance of eBOLs by insurers.
- An assessment of the advantages and disadvantages of eBOLs.
- Recommendations for shippers/carriers, banks, and insurers on how to avoid the pitfalls that could come with the use of eBOLs.