Lloyd’s coverholder Loadsure launches new ‘pay-as-you-go’ cargo offering

Loadsure, an international insurtech managing general agent (MGA) and  Lloyd’s coverholder, has launched a new pay-as-you-go cargo insurance to meet the evolving needs of the freight industry.

The new product, Cargo Plus, will be offered worldwide and include all-risk coverage for goods and merchandise in transit, with limits of up to $10 million in international and $5 million in US domestic conveyance.

The MGA said 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 (pictured) commented: “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.”

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