ITS launches CargoShield transactional cargo insurance

ITS Financial Services, along with McGriff, Seibels & Williams, and Roanoke Underwriting, announced the launch of CargoShield.

“Across the industry, you won’t find an insurance product quite like CargoShield,” Truckstop.com CEO Paris Cole said. “It is very affordable and insures the goods from pickup to delivery. CargoShield allows people that move freight to do just that, and feel confident that not only is their customer’s freight safe, but their business relationship is too.”

CargoShield offers standardized insurance to the freight industry and removes the necessity to prove carrier negligence or liability coverage. An “all risks” coverage, CargoShield provides the industry’s broadest form of insurance throughout the U.S. and Canada, covering Acts of God, loss of control, unattended vehicle, and many others, ITS said.

“With CargoShield, brokers, shippers, and carriers are able to provide protection regardless of underlying motor carrier cargo coverage,” said Brett McGinnis, executive vice president of McGriff, Seibels & Williams. “It’s a way to provide peace-of-mind while also protecting your customers’ freight and your own profit and loss statements.”

CargoShield costs $12 per load, covers loads up to $100,000, and can pay claims in as few as 30 days of receipt of the required claim documentation, according to ITS.

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