Nobody thinks about cargo insurance. Until a million dollars goes up in smoke.
Nobody thinks about cargo insurance. Until a million dollars goes up in smoke.
4 PagesNobody thinks about cargo insurance. Until a million dollars goes up in smoke. UPS Capital | FINANCIAL, INSURANCE & PAYMENT SERVICES FOR YOUR SUPPLY CHAIN David Lax reluctantly admits it. “There was a time in 2011 when we wondered if the expense for cargo insurance was worth it,” he recalls. “It crosses your mind sometimes, especially if you don’t have many claims.” Lax joined Argus in 1993, and today serves as the company’s vice president of operations. Back in the day, he also introduced Argus to their first cargo insurance policy. “They didn’t use cargo insurance back then,” he says. “They used carrier liability on a shipment-by-shipment basis, which was really difficult and expensive.” Argus began with UPS Capital ® in 2001, and today they have a comprehensive policy
