MiKargo247 and Verified Carrier Launch Coverage for Strategic Cargo Theft
MiKargo247 has expanded its spot cargo insurance coverage to include protection against strategic cargo theft through a new partnership with Verified Carrier. The collaboration aims to address rising freight fraud, including double brokering, carrier identity theft, and fictitious pickups. Brokers using Verified Carrier can now remove the strategic theft exclusion from MiKargo247's policy when hauling is done by an eligible verified carrier. According to a 2025 report by Munich Re Specialty and BSI Consulting, strategic cargo theft accounted for about 30% of U.S. incidents in that year. The FBI has also warned of increasing cyber-enabled fraud schemes involving compromised accounts and fictitious companies. MiKargo247's CEO emphasized the partnership removes a key risk management limitation when verified carriers are involved. MiKargo247, which entered the market in 2022 as an insurtech platform offering on-demand cargo coverage for single trips, has expanded through partnerships with freight technology platforms. Verified Carrier focuses on verifying carrier legitimacy before shipments occur.
Topics: cargo theft freight fraud insurance coverage partnerships