“Claims like this typically take two to three months, but it only took two weeks with Loadsure.”
– John Coviello, President
Delivering trusted freight forwarding and brokerage services for five decades
When shippers need to move complicated LTL and FTL loads—from perishable goods to cases of wine and other fragile freight—they know they can count on Long Island, NY-based GMG Transwest.
Operating two warehouses, a large temperature-controlled cooler, and sophisticated tech to manage inventory, distribution, and threat mitigation, this asset-based freight forwarding and brokerage firm has a rock-solid reputation. GMG Transwest gets loads quickly and safely from Point A to Point B—and prides itself on exceeding customer expectations.
Protecting against unexpected risk
Despite herculean efforts to identify and mitigate risk, including carrying contingency cargo, errors and omissions, bailee, and warehouseman’s coverage, GMG Transwest has been bitten by the unexpected coverage loophole from time to time—just like so many others in the industry.
As president, John Coviello says, “Experience is the best teacher. Unfortunately, it’s always an expensive lesson to uncover a new way we can get harmed.”
GMG Transwest requires complete coverage in its carrier agreements and, before dispatching a load, the company confirms the carrier’s authority is active, certificates are in place, and insurance is active and valid.
Still, like all others in the industry, they’ve encountered the occasional unforeseen circumstance:
- A load re-brokered without their knowledge—and shipped using a carrier without proper insurance
- Carrier coverage suspended en-route when the carrier failed to make an insurance payment
- A five-figure bill when a carrier without physical damage coverage required an expensive tow—and GMG’s load was held as collateral until payment was received
GMG Transwest has purchased all-risk coverage through its load board before but, with coverage capped at $100,000, it wasn’t the complete solution the company needed. To thrive, GMG had to identify a way to quickly cover high-value loads and protect against risk exposure.
Fast, simple all-risk coverage for high-value loads
“We did some inquiring as to where we could go,” says John. “That brought us to Loadsure.”
In its due diligence, GMG Transwest found that Loadsure’s AI-powered, end-to-end digital cargo insurance solution was not only fast and easy to use, but it also offered domestic coverage of up to $500,000—a clear advantage for them.
So, when the freight services company was presented with a high-value load—consisting of expensive televisions—and the shipper requested higher limit coverage, it decided to take Loadsure’s all-risk coverage for a spin.
The experience—from onboarding to claim settlement—proved Loadsure’s value.
Accelerated claims processing—with the nicest people in the game
Acquiring coverage couldn’t have been simpler, according to John. “It’s great coverage, very affordable, and easy to use. A no-brainer. As I like to say, ‘it’s first-grade math’.”
Unfortunately, despite GMG Transwest’s low record of claims—a fact the company takes great pride in—thirty-one televisions in three separate loads were rejected by the receiver. Granted, the televisions themselves arrived in perfect shape, but there were wrinkles on the packaging—and the receiver insisted upon virgin, sealed boxes in pristine condition.
While the shipper—a high-volume client—loaded the electronics and the receiver at an outside warehouse unloaded, it was GMG Transwest that got stuck with the claims.
So, what did John think about his claims experience with Loadsure?
“It was quite easy and quick. You put in your certificate number and it pulls in all of the information. Then it spoon-feeds you the process, step-by-step. It simplifies things, and it lessens the chance of error. There are no handwritten documents or handwritten claims—everything goes into the portal.”
As for the people that reached out to John directly, his review was glowing. “The people were gentlemen. I’ve never dealt with nicer insurance people than at Loadsure.”
Despite presenting a bit of an unusual situation and a high-value claim, the entire process was fast—from claims submission to payment receipt.
“Claims like this typically take two to three months,” says John. “But it only took two weeks with Loadsure.”
When asked if he would recommend Loadsure to others in the freight industry, John says, “I already have. So, the answer to that would be, absolutely yes. No matter how many checks you have in place, no matter how many systems you utilize, there’s still a loophole you may not have seen. Loadsure gives you that comfort level you don’t often find.”