MGA, insurer launch online cover for spot freight market
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Loadsure Ltd. and ArgoGlobal have launched an online coverage for the U.S. spot freight market following Lloyd’s of London's granting coverholder approval for managing general agent Loadsure, the MGA and insurer said in a statement Wednesday.
London’s Loadsure is also collaborating with Avalon Risk Management as retail broker in the U.S., according to a spokewoman’s email.
Argo has been involved in supporting the business through the Lloyd’s coverholder approval process and providing capacity, the statement said.
Loadsure offers coverage for shippers, brokers and insurers that is integrated with freight and logistic industry electronic platforms and marketplaces, the statement said.
The digital platform was built by Noria Group, the Oslo, Norway-based financial services IT provider, the statement said, adding Concirrus Ltd. built the data analytics platform and dynamic rating model.
ArgoGlobal is the trading brand of Syndicate 1200 at Lloyd’s, managed by Argo Managing Agency Ltd., the statement said, part of Argo Group International Holdings Ltd.
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