Described as a transactional “all-risks” cargo insurance offering, it is designed to reduce load liability and standardize coverage across the transportation industry, the companies said. CargoShield insures goods from pickup to delivery, removing the need to prove carrier negligence or liability coverage. Brokers, shippers and carriers can provide protection regardless of underlying motor carrier cargo coverage, according to Brett McGinnis, executive vice president of McGriff, Seibels & Williams. CargoShield costs $12 per load, covers loads up to $100,000, and can pay claims in as few as 30 days from receipt of required claim documentation, the insurers said.
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