MGA Loadsure unveils ‘revolutionary’ ocean cargo insurance solution

Loadsure, an insurtech managing general agent (MGA) and  Lloyd’s coverholder, has unveiled a new digital ocean cargo & stock throughput insurance solution that it believes will transform insurance efficiency across the entire supply chain, empowering brokers to accurately price risk and generate quotes for complex programmes with speed and ease.

Loadsure has launched DanubeTM - Dynamic Ocean Cargo Insurance and HuronTM - an “industry first” digital ocean cargo & stock throughput insurance product, which enables brokers to quote “cost-effective” annual cover to their clients with speed, utilising historical and real-time data to accurately price risk.

It provides all-risk coverage for goods and merchandise during transit or while at storage facilities, with coverage limits of up to $10 million per conveyance and $10 million for named storage locations, including protection against catastrophic perils. The coverage includes protection from physical loss or damage from a wide range of risks, such as loading damage, flooding, fire, roof collapse, and theft.

The MGA believes the new product offers a “revolutionary user experience to annualised insurance; enabling brokers to serve their clients with quotes for complex programmes within minutes - providing sustainably-priced cover which consolidates the historical patchwork of labour-intensive, inefficient policies in one; eliminating coverage gaps, enabling massive operational efficiencies and cost savings for assureds.”

Loadsure CEO and founder Johnny McCord (pictured) said: “We’re very pleased to unveil Danube and Huron. Loadsure was founded to make insurance efficient for the entire supply chain; by enabling the middle market with these new products we’re empowering insurance brokers to better serve importers/exporters, manufacturers, distributors and retailers, who need to protect their businesses.”

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