What Are the Key Differences Between AIG and Founder Shield Cargo and Transit Insurance?
Shipment Types and Transportation Risks
AIG identifies importers, exporters, manufacturers, wholesalers, and distributors moving containerized, bulk, and project cargo. Founder Shield targets shippers, carriers, logistics companies, manufacturers, distributors, and third-party logistics providers. Its transit and transportation description also includes damage to company vehicles and third-party liability, exposures beyond cargo damage alone. A logistics operator should separate freight value from vehicle and operating liability in the submission. [1] [6]
Carrier Placement and Policy Scope
AIG says its cargo page does not identify which subsidiary would issue a particular policy. Founder Shield says it places transit coverage through third-party carriers rated A− or better by AM Best, but the carrier depends on the placement. Ask both brokerages to name the actual insurer and distinguish cargo coverage from commercial auto terms before binding. [1] [5]
What Should You Confirm in AIG and Founder Shield Cargo and Transit Insurance Quotes?
- Ask Founder Shield to clarify how cargo loss, vehicle damage, and third-party liability divide across the proposed forms. [1] [6]
- Ask each provider to identify the insurer, limits, and claim contact for every coverage part. [1] [5]
- Provide commodity, route, conveyance, vehicle, and shipper/carrier roles consistently to both teams. [1] [6]