MiKargo247 and Verified Carrier launch spot cargo insurance for strategic cargo theft
On Sept. 1, MiKargo247 and Verified Carrier announced a partnership that lets brokers buy MiKargo247 spot cargo insurance and have the strategic theft exclusion removed when the load is hauled by an eligible verified carrier. Strategic cargo theft made up about 30% of reported U.S. cargo theft incidents in 2025, according to a June report from Munich Re Specialty and BSI Consulting.
MiKargo247’s spot cargo policy, which it has offered since entering the market in 2022, provides on‑demand, single‑trip coverage with limits of up to $1 million per load. Brokers can initiate the process inside the Verified Carrier platform, where they verify a carrier, quote and bind the MiKargo247 policy, and download a certificate without leaving the workflow. Verified Carrier’s service focuses on confirming that the carrier involved in a freight transaction is legitimate before pickup, using driver and carrier verification tools. The partnership combines verification with insurance so that verified carriers are not penalized by exclusions meant for fraudulent actors.
“The strategic theft exclusion has always been a risk management decision, not a permanent limitation,” Michele McGinnis, CEO of MiKargo247 said.
“Verified Carrier exists because the freight industry needs a way to protect carriers, brokers, shippers, and their customers by making fraud structurally impossible at every link in the chain,” Alex Panfilov, founder and CEO of Verified Carrier said.
Before this partnership, MiKargo247 offered spot cargo insurance that excluded strategic theft, and Verified Carrier provided carrier verification services but did not include insurance coverage.
What we know
Partnership announced Sept. 1.
Strategic cargo theft accounted for about 30% of reported U.S. cargo theft incidents in 2025.
MiKargo247 entered the market in 2022.
Initial coverage limits were up to $1 million per load.
FBI warned in April that cyber-enabled strategic cargo theft is increasing.