E&S wholesale broker and managing general agency Risk Placement Services (RPS) today announced the launch of a new all-risk cargo product with carrier partner The Hartford.
Available to quote-bind-issue online in just two minutes through RPS’ Small Business Platform, the global cargo policy from The Hartford covers tangible damages to goods while in transit from the origin warehouse to the destination warehouse by sea, air and overland transit. This distinct coverage protects against theft, loss or damage to the cargo whether it is due to sacrificed containers, piracy or inclement weather resulting in goods 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,” said Brendan Neligan, RPS marine broker.
“Offering our cargo product through the RPS platform helps address a complex transportation risk without the challenge of invasive underwriting requirements,” said The Hartford’s National Cargo Practice Leader Paul Boulos. “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.”
The new all-risk cargo product through RPS with The Hartford is designed for importers, exporters, manufacturers and distributors with less than $15 million in annual sales or shipped values and available for U.S. domestic risks and worldwide (except those countries and territories under sanction). Highlights include:
- Up to $1 million limit for any one conveyance/named storage location
- Domestic and foreign inland transit covers land conveyances
- Salesman samples, installation, exhibition/trade show, and unnamed location features ensure goods are covered in a wide variety of scenarios.
The Hartford holds an A+ (Superior) rating from A.M. Best.