In 2020, we bought a game-changing product to market; a dynamic, on-demand cargo insurance solution called Thames™, which was transformative for both insurance brokers and the freight community they serve. Since then, we’ve built out a catalog of versatile insurance products for almost every type of shipment. From the LTL cargo often shipped by SMBs to complex, break bulk loads, we’ve got it covered (literally).

When you’re shipping cargo any sizable distance, there are plenty of risks: supply chain disruption, natural disasters and theft to name just a few. With that in mind, if you’ve got freight to move, insuring it is the best thing you can do to protect your business from loss. So let’s take a look at our product range in more detail, and establish what type of cargo insurance is best suited to your needs.

Exploring the Loadsure product range

1. Thames™ – Dynamic, On-Demand Cargo Insurance

As the first product Loadsure launched, Thames™ was created to transform the industry standard of cargo insurance. This flexible solution can replace inconvenient annual policies with cover issued on a per-shipment basis. It’s ideal for both LTL and FTL freight, and can even cover high-value loads (subject to underwriter review) – but all goods are given comprehensive door-to-door protection from physical loss or damage, including any that occurs during loading or unloading.

Quotes for the Thames™ policy are generated by our dynamic pricing model, which uses a data-driven algorithm to deliver hyper-accurate pricing in less than 40 seconds. This means shippers are no longer forced to choose between overpaying for coverage or facing broad risk exposure. Plus, due to its flexible conditions, Thames™ is suitable for many different organizations in the supply chain, including owners and distributors of goods, freight brokers, NVOCCs, freight forwarders, 3PLs and more.

2. Orinoco™ – Dynamic Shippers Interest Insurance

By contrast, Orinoco™ is our digital approach to annualized shipper’s interest policies. This product was designed for slightly larger organizations who make a minimum of 10 shipments – or $25,000 gross written premium – per year, and offers up to $10M in international and domestic conveyance limits. Most commonly used by freight brokers, 3PLs and carriers, this policy enables these organizations to serve a wider range of shippers, thanks to its capacity to cover hard-to-place risks as well as standard cargo.

3. Columbia™ – Motor Truck Cargo Insurance

Columbia™ (motor truck cargo insurance) is the latest product to join the Loadsure catalog. Designed for motor truck carriers, freight brokers and freight forwarders, Columbia™ provides broad coverage that includes 11 supplemental coverages — such as business personal property, contingent coverage and shipping containers.

With over 72% of the cargo in the US shipped by road in 2022, this is a much-needed solution that offers transparent pricing and instant document generation to businesses of all sizes — so SMEs can access the coverage they need at the best possible value for money. With Columbia™, insurance brokers will also be able to serve their clients in the freight community more efficiently, with a reduced transaction time thanks to our data-powered underwriting process.

4. Danube™ – Dynamic Ocean Cargo Insurance

Some small and medium-sized enterprises have trouble accessing affordable cargo insurance because of the minimum premiums in place for certain policies. That’s where Danube™ is different; this is a dynamic ocean cargo insurance product with no minimum premium requirement, so it’s perfect for SMBs looking for a cost-effective way to cover their shipments – big or small. Like all Loadsure products, the cover Danube™ offers goes further than typical all-risk policies, with door-to-door protection from physical loss or damage.

Plus, from a convenience standpoint, Danube™is now a fully digital product, so shipment and risk details can be entered directly into the portal, and policies are issued then and there.

5. Huron™ – Ocean Cargo and Stock Throughput

One of the major gaps in coverage that shippers experience is cover for goods while they’re in storage, either at warehouses, distribution centers or in other static locations. We developed Huron™ – our stock throughput policy – to tackle this concern; it provides the highest level of coverage, right through from the source of raw materials, to distribution centers and then on to the final destination.

In this situation, many shippers take out an assortment of different policies to avoid coverage gaps. For instance, goods in storage are sometimes covered by property insurance for the facility they’re in, although this isn’t always a cost-effective option. Huron™ is the ultimate solution to this, and as it’s also fully digital, an accurately-priced quote can be obtained via the portal in five minutes. It’s one affordable policy that covers the load from end-to-end, with no minimum premium and up to $10m in conveyance limits for goods in transit, as well as named storage locations.

6. Congo™ – Project and Complex Cargo Insurance

Lastly, Congo™ is the latest addition to our product range, and probably the most niche policy in our offering too. Designed specifically for oversized and/or overweight shipments, Congo™ can cover any goods that have to be shipped using specialist logistics measures.

If you’re a shipper or manufacturer that needs to transport a piece of equipment or machinery so large and cumbersome that it won’t fit in any conventional containers, this policy is ideal for you. It’s worth noting that – because of the unusual nature of these loads – our method for supplying Congo™ quotes currently relies on the expertise of skilled brokers rather than the AI-powered portal, and so does the claims process.

Still not sure which Loadsure product is right for you? Get in touch via our contact form, and we’ll help you find a solution that meets your needs.