Experts Question Value and Transparency of New All-in-One Cargo Insurance Products
New, simplified cargo insurance products offered directly by logistics providers are facing scrutiny from industry experts. Critics suggest these policies may function as a 'cash grab,' featuring significant mark-ups while offering less coverage than traditional insurance. A major concern is the potential conflict of interest, where freight forwarders sell insurance against risks they are responsible for managing. Shippers are often unaware that these policies may not cover key risks, such as carrier negligence. Industry veterans advise customers to carefully review the terms or stick with established, comprehensive insurance brokers.
Official Source: https://theloadstar.com/new-cargo-insurance-products-another-chance-for-a-quick-cash-grab/
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