Smart Cargo + Cyber
Our Ocean Cargo policy includes an affirmative Smart Cyber endorsement tailored for the cyber risks facing organizations transporting goods. All Smart Cyber + Cargo policies include a custom Dynamic Loss Prevention report based on our Cyber Scan. For policyholders who remotely collect temperature data on their shipments, or are ready to start, Corvus can leverage this data through advanced risk modeling to provide better pricing and enhanced coverage.
Corvus uses proprietary risk models built on billions of data points from IoT sensors to inform underwriting, coverage and rate while also helping to minimize or prevent cargo damage. Analysis of temperature stability data trends is powerful business intelligence that helps our policyholders optimize shipping routes and methods.
Cyber Risk Mitigation
Policyholders receive a Dynamic Loss Prevention report quarterly that highlights prioritized IT vulnerabilities and access to a customized vCISO report for operational cybersecurity insight. Ongoing cyber threat monitoring and risk alerts ensure that brokers and policyholders are informed of emerging risks.
Our Comprehensive, All Risk Form Includes
- Warehouse to Warehouse
- World to World Insurance (except where prohibited by law or regulation)
- Contingent Insurance
- Deliberate Damage – Pollution/ Customs
- Concealed Damage
- Full Value Reporting
- Shortage from Containers
- Drop Shipments
- Consolidation Coverage
We underwrite Smart Cargo + CyberTM for the life sciences and food & drink industries, for both perishable and non-perishable goods, including wine and beer.
- Life science
- Freight forwarding
- Affirmative Cyber Coverage - an
industry first in Ocean Cargo
- Ocean/Air Transit
- Domestic Transit
- Location Extensions – (Warehouse/Processing)
- Salesperson’s Sample
- Exhibition/Trade Shows
Enhanced Coverage for Perishable Products:
- Net Profit and Extra Expense
on Product While at Processor
- Product Deterioration on
Goods While at Processor
Data drives Corvus – and that includes the claims experience. We work closely with our risk-taking partner, Skyward Specialty Insurance, on handling cargo claims. When a Smart Cargo + Cyber claim occurs, we can look at the shipment data of the event and track it to the minute. With that information, we can help determine what party in the logistics chain was responsible for the loss. If that is a party other than the policyholder, we are informed and effective at subrogating (making the other entity pay) the claim. That improves the loss record of our insureds.
Want to get quoting with Corvus? Drop us a line and we will set you up on our platform, the CrowBar®, for automated quoting.
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If you’d like to notify Corvus of a claim, please email firstname.lastname@example.org.
If you have any other questions about our products, coverage and appetite, let us know and our underwriting team will respond within one business day.