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Chaucer launches US cargo program targeting strategic theft
The new program, underwritten by Indemni on Lloyd's syndicates' behalf, offers contingent cargo liability up to $1 million and standalone strategic theft cover for issues like fictitious pickups.
Chaucer has launched a US cargo insurance program aimed at strategic theft, a fraud driven form of freight crime that has more than doubled losses for shippers and logistics firms this year, Insurance Business reported.
The program is run by Indemni, which has been approved as a Lloyd's coverholder with sponsorship from Chaucer Syndicate 1084, and Chaucer leads the underwriting arrangement with additional capacity from Aviva, Atrium, Blenheim and Talbot. Indemni underwrites on the syndicates' behalf.
Coverage includes US land transit risks, with contingent cargo liability limits of up to $1 million and single trip transit cover of up to $15 million per shipment. It also provides standalone strategic theft cover intended to respond to fictitious pickups and impersonation fraud.
The launch comes as cargo crime shifts away from physical break ins toward deception, with Verisk CargoNet recording 677 supply chain theft incidents across the US and Canada in the second quarter of 2026, down 26% year on year, while estimated losses more than doubled to $304.6 million from $135.7 million. Indemni also raised $4 million from Field Ventures and Diagram Ventures in its latest funding round, according to the report.