Risk Placement Services (RPS) has introduced the launch of a brand new all-risk cargo product with service associate The Hartford.
The international cargo coverage is accessible to quote-bind-issue in solely two minutes by way of the RPS Small Business Platform. The coverage covers tangible damages to items whereas in transit from the origin warehouse to the vacation spot warehouse by sea, air and overland transit. The protection protects towards theft, loss or harm to the cargo, whether or not it is because of sacrificed containers, piracy or inclement climate leading to items going overboard.
“Through The Hartford’s dedicated underwriting and claims management, and backed by RPS’ deep expertise in this specialty market, the online platform allows agents and brokers to simply and efficiently secure end-to-end cargo coverage for their small business clients,” mentioned Brendan Neligan, marine dealer at RPS.
“Offering our cargo product through the RPS platform helps address a complex transportation risk without the challenge of invasive underwriting requirements,” mentioned Paul Boulos, nationwide cargo follow chief at The Hartford. “The Hartford’s competitive policy form covers a wide array of exposures throughout the supply chain and aims to keep businesses moving and uninterrupted. We are excited and fortunate to go to market with a dynamic partner in RPS and expect continued expansion in this offering as it grows.”
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The product is designed for importers, exporters, producers and distributors with lower than $15 million in annual gross sales or shipped values. It is accessible for US home dangers and worldwide, besides in nations and territories underneath sanction. Highlights of the coverage embrace:
- Up to $1 million restrict for anybody conveyance or named storage location
- Domestic and overseas inland transit covers and land conveyances
- Salesman samples, set up, exhibition/commerce present, and unnamed location options guarantee items are coated for a large spectrum of eventualities