Loadsure Teams-Up with Avalon Risk Management to Bring Simplified Spot Freight Cargo Insurance to the U.S.

Loadsure Teams-Up with Avalon Risk Management to Bring Simplified Spot Freight Cargo Insurance to the U.S.

LOADSURE’S END-TO-END DIGITAL INSURANCE SOLUTION DELIVERS ON-DEMAND PER-LOAD INSURANCE, EMPOWERING THE TRANSPORTATION INDUSTRY TO QUICKLY AND COST-EFFECTIVELY MANAGE RISK IN THE FACE OF COVID-DRIVEN DEMAND

LONDON– April 21, 2020 – Loadsure today announced that it has entered into a retail broker agreement with Avalon Risk Management, enabling the London-based managing general agent (MGA) to deliver the transportation industry’s simplest, most efficient, data-driven approach to spot freight cargo insurance to the U.S.—enabling brokers, shippers, and carriers to save time and dramatically cut costs.

The U.S. transportation industry is grappling with growing spot freight demand. In response to COVID-19, the Federal Motor Carrier Safety Administration (FMCSA) has issued an extended, expanded nationwide HOS emergency relief declaration to enable the rapid shipment of supplies critical to the nation’s public health response. As a result, carriers are not only strained, brokers and shippers are increasingly turning to the spot market for capacity, leveraging carriers who are not as well-vetted. In addition, private fleets are moving into the spot market—often without the comprehensive coverage they need. All of these scenarios introduce added risk. Loadsure empowers brokers, shippers, and carriers to manage this risk with per-load cargo insurance delivered in real-time.

“COVID-driven demand for cargo freight is exceeding the ability of contractual logistics to cope, and freight is increasingly moving to the spot market,” said Loadsure CEO and founder, Johnny McCord. “We’re here to quickly provide the on-demand, all-risk, wrap-around insurance that ensures our clients can keep critical supplies flowing while also protecting them from risk.”

In collaboration with Avalon in the U.S., Loadsure’s fully automated user interfaces empower the transportation industry to purchase spot freight cargo insurance in just seconds. Additionally, clients can cut their per-load insurance costs by 5x and accelerate their claims settlements from days to hours.

“Thousands of loads are transported daily without sufficient coverage, which creates a considerable liability for shippers, brokers, and carriers,” said Avalon Executive Chairman, James Zuhlke. “ As a premier provider of innovative insurance solutions, we’re excited to announce our cooperative agreement with Loadsure and offer a first-class ‘all risk’ insurance solution.”

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ABOUT LOADSURE

Loadsure is an international Insurtech Managing General Agent (MGA), and its eyes are set on revitalizing the freight spot market with exciting new technology. With an innovative digital product, it takes the lead, fueling growth and driving diversification within the market. Loadsure’s fully digital end-to-end, cloud-based insurance solution leverages predictive analytics and cutting-edge tech stack to provide the spot freight community with a full-service insurtech solution, integrated with leading digital transportation management platforms. Visit loadsure.net.

ABOUT AVALON RISK MANAGEMENT

Avalon Risk Management is an independent, privately-held insurance broker, owned and operated by its founding management team with a multi-national presence. The company’s network of agents worldwide, it assists its valued clients with their global insurance needs, including surety bonds, marine cargo insurance, professional liability (E&O) insurance, commercial auto for truckers and couriers, business insurance, and other specialty lines. Visit avalonrisk.com.

MEDIA CONTACT

Johnny McCord

Loadsure

T: +44 (0) 208-2803-133

M: +44 (0) 7776 175503

johnny.mccord@loadsure.net

Loadsure Teams-Up with Avalon Risk Management to Bring Simplified Spot Freight Cargo Insurance to the U.S.

LOADSURE’S END-TO-END DIGITAL INSURANCE SOLUTION DELIVERS ON-DEMAND PER-LOAD INSURANCE, EMPOWERING THE TRANSPORTATION INDUSTRY TO QUICKLY AND COST-EFFECTIVELY MANAGE RISK IN THE FACE OF COVID-DRIVEN DEMAND

LONDON– April 21, 2020 – Loadsure today announced that it has entered into a retail broker agreement with Avalon Risk Management, enabling the London-based managing general agent (MGA) to deliver the transportation industry’s simplest, most efficient, data-driven approach to spot freight cargo insurance to the U.S.—enabling brokers, shippers, and carriers to save time and dramatically cut costs.

The U.S. transportation industry is grappling with growing spot freight demand. In response to COVID-19, the Federal Motor Carrier Safety Administration (FMCSA) has issued an extended, expanded nationwide HOS emergency relief declaration to enable the rapid shipment of supplies critical to the nation’s public health response. As a result, carriers are not only strained, brokers and shippers are increasingly turning to the spot market for capacity, leveraging carriers who are not as well-vetted. In addition, private fleets are moving into the spot market—often without the comprehensive coverage they need. All of these scenarios introduce added risk. Loadsure empowers brokers, shippers, and carriers to manage this risk with per-load cargo insurance delivered in real-time.

“COVID-driven demand for cargo freight is exceeding the ability of contractual logistics to cope, and freight is increasingly moving to the spot market,” said Loadsure CEO and founder, Johnny McCord. “We’re here to quickly provide the on-demand, all-risk, wrap-around insurance that ensures our clients can keep critical supplies flowing while also protecting them from risk.”

In collaboration with Avalon in the U.S., Loadsure’s fully automated user interfaces empower the transportation industry to purchase spot freight cargo insurance in just seconds. Additionally, clients can cut their per-load insurance costs by 5x and accelerate their claims settlements from days to hours.

“Thousands of loads are transported daily without sufficient coverage, which creates a considerable liability for shippers, brokers, and carriers,” said Avalon Executive Chairman, James Zuhlke. “ As a premier provider of innovative insurance solutions, we’re excited to announce our cooperative agreement with Loadsure and offer a first-class ‘all risk’ insurance solution.”

##

ABOUT LOADSURE

Loadsure is an international Insurtech Managing General Agent (MGA), and its eyes are set on revitalizing the freight spot market with exciting new technology. With an innovative digital product, it takes the lead, fueling growth and driving diversification within the market. Loadsure’s fully digital end-to-end, cloud-based insurance solution leverages predictive analytics and cutting-edge tech stack to provide the spot freight community with a full-service insurtech solution, integrated with leading digital transportation management platforms. Visit loadsure.net.

ABOUT AVALON RISK MANAGEMENT

Avalon Risk Management is an independent, privately-held insurance broker, owned and operated by its founding management team with a multi-national presence. The company’s network of agents worldwide, it assists its valued clients with their global insurance needs, including surety bonds, marine cargo insurance, professional liability (E&O) insurance, commercial auto for truckers and couriers, business insurance, and other specialty lines. Visit avalonrisk.com.

MEDIA CONTACT

Johnny McCord

Loadsure

T: +44 (0) 208-2803-133

M: +44 (0) 7776 175503

johnny.mccord@loadsure.net