Hiscox has launched a cargo application programming interface-based solution, available through broker partners for underwriting small cargo and stock throughput risks.
The insurer explained the solution was in response to demand for an insurance product to cover the smaller cargo risks that typically do not get placed in the London insurance market.
Targeting the needs of a range of small and medium-sized businesses and their storage and shipments required worldwide, the cargo API provides a near instant quote and bind for every risk within underwriting appetite, Hiscox stated.
The provider listed risks insured include clothing, lumber, equipment and parts, agri
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