ATLANTA, Nov. 06, 2019 (GLOBE NEWSWIRE) -- UPS Capital ®, a subsidiary of UPS® (NYSE:UPS), today announced the launch of its online single-shipment coverage which gives businesses immediate access to transactional insurance – regardless of the shipping mode or carrier.

UPS Capital CargoEdge® single-shipment coverage supports an enhanced customer experience by providing insurance coverage through a fast and secure process. Customers can request and receive insurance coverage on shipments in a matter of minutes – all online.

“As more companies rely on digital transactions to keep pace with business demands, it was important for us to respond with flexible, innovative shipping coverage,” said UPS Capital President Mark Robinson. “It puts speed, control and choice in the customer’s hands, where it should be.”

According to a study of U.S. businesses, 92% of shippers experience some type of loss, damage or delay that impacts 10-15% of their annual shipments. While many shippers elect protection through the carrier’s liability, they may be missing the value of real shipping insurance. Now, customers can enjoy the benefits of protection with turn-key, single-shipment coverage in as little as 5 minutes. Coverage is ideal for:

-- Single shipments including less than truckload (LTL), truckload (TL), ocean and air freight -- Items that may not be covered under an existing policy -- Shipments that may exceed existing policy limits

“Everything we’re doing now is about choice and convenience,” Robinson said. “We’re giving customers the option to choose the coverage they need for their shipments with ease and flexibility – whenever it suits them.”

Coverage highlights include:

-- Protection for new or used goods with small package shipments valued up to $70,000* and freight shipments valued up to $1 million* -- Reimbursement in the event of loss or damage, including concealed damage coverage up to 30 days after delivery -- Coverage for all carriers, all modes -- Claims valuation up to 100% of the invoice value plus freight -- Dedicated claims support with fast claims resolution

UPS Capital also offers a suite of shipping insurance APIs that businesses can integrate into their existing systems. As UPS Capital continues to innovate superior insurance coverage through digital connectivity, customers enjoy greater flexibility with coverage, when and where they need it.

To learn more about CargoEdge® single-shipment coverage, visit https://upscapital.com/insureshipment

* Limits above $50,000 are available with additional underwriting review.

About UPS Capital

Nobody understands transportation and logistics like UPS. And while you’ve probably never thought of a UPS (NYSE: UPS) company for financing and insurance services, the global supply chain expertise of UPS Capital uniquely positions us to help protect companies from risk and leverage cash in their supply chains. UPS Capital and its affiliates have offices throughout the United States, as well as operations in Asia, Europe and Latin America. For more information, visit https://upscapital.com.

Kristin DeBates 404-828-4032 kdebates@ups.com

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