Loadlink Technologies and MiKargo247 have partnered to offer customers one-way spot cargo freight insurance in the U.S. and Canada.

Loadlink members can get access to up to $1 million in cargo insurance coverage for one-way freight. The insurance is underwritten by A-rated Munich Re, a global provider of reinsurance, primary insurance and insurance-related risk offerings.

Customers can receive a quote in 10 seconds and coverage in 90 seconds and don’t have to sign up or subscribe. Policies are “all-risk” so there’s no question of whether coverage applies.

“We are thrilled to partner with Loadlink. We developed MiKargo247.com to fill a challenging hole in the market and to support the needs of memberships like theirs,” said MiKargo247 co-founder and CEO Michele McGinnis.

“It’s estimated that over 60% of cargo on the road in North America goes uninsured or underinsured daily, racking up $15+ billion worth of damages that cannot be recouped. With MiKargo247, not only are shippers and freight brokers protected with an all-risk policy if something goes wrong, but the truckers can now haul previously uninsurable loads, ultimately making them more revenue and freight brokers can expand capacity to satisfy their customer needs as well.”