As I recall Uniform Commercial Code The title ( ownership) transfers when Invoice is cut. If paid in advance then buyer actually owns the goods.
Shipper If requested takes out insurance and therefore claims the loss. Buyer has claim against shipper for non-delivery. ie should get money back.
Report of loss theft should be shipper and owner.Shipper has obligation to file due to ATF record keeping requirements.
If however shipment was within state not Interstate then local state law would have precedence.
