InsurTech MGA Loadsure today announces the launch of its new smart annual cargo product, Cargo Plus.
The new offering is an annualized ocean cargo product that will deliver the financial convenience of a pay-as-you-go policy with the assurance that annual cover provides. Cargo Plus will be offered worldwide and include all-risk coverage for goods and merchandise in transit, with limits of up to $10M in international and $5M in US domestic conveyance.
Critically for SMBs who struggle to access cost-effective coverage, there will be no minimum premium required for Cargo Plus. It will also offer a pathway to integration for adjustable premiums with no reporting necessary, and offer flexible payment terms.
Loadsure CEO Johnny McCord said: “The freight industry is changing fast and needs insurance to match that development. Leveraging our AI-powered dynamic rating model, the launch of Cargo Plus is a significant milestone in the development of Loadsure’s offering. We’re delighted we can offer this state-of-the-art cover that will also empower our assureds – whether manufacturers, distributors, retailers, wholesalers or others – to better understand their risk exposure while providing visibility into business performance.”