MiKargo247 is expanding its spot cargo insurance offering to cover strategic cargo theft through a new partnership with Verified Carrier, connecting carrier verification directly with insurance protection for eligible shipments.
The partnership is aimed at a growing form of freight fraud involving double brokering, carrier identity theft and fictitious pickups. Under the new arrangement, brokers using Verified Carrier can purchase MiKargo247 spot cargo insurance and have the strategic theft exclusion removed when an eligible, verified carrier is responsible for hauling the load.
The companies announced the partnership on Sept. 1.
Strategic theft becomes a growing freight risk
Strategic cargo theft represented approximately 30% of reported U.S. cargo theft incidents in 2025, according to a June report from Munich Re Specialty and BSI Consulting.
The report found that criminals are increasingly relying on deception, impersonation and other fraud-based techniques to obtain freight, rather than simply stealing cargo physically from trucks or facilities.
That shift presents a particular challenge for brokers and insurers. Fraudulent operators can impersonate legitimate carriers or create fictitious businesses, making it harder to establish who is actually responsible for transporting a shipment.
The FBI warned in April that cyber-enabled strategic cargo theft is increasing. Criminals are using compromised accounts, fictitious companies and double-brokering schemes to divert legitimate freight. The agency advised transportation companies to independently verify shipment requests and pickup information before releasing loads.
MiKargo247 and Verified Carrier are positioning their new partnership as a response to that evolving threat.
“The strategic theft exclusion has always been a risk management decision, not a permanent limitation,” said Michele McGinnis, CEO of MiKargo247, in the partnership announcement. “If we know a carrier has been vetted, the fraud scenario the typical exclusion was written to address is already off the table.”
Combining verification with insurance
MiKargo247 has developed its spot cargo insurance business since entering the market in 2022.
The company launched as an insurtech platform providing brokers, third-party logistics providers and motor carriers with on-demand, single-trip cargo coverage, initially offering limits of up to $1 million per load.
Since then, MiKargo247 has expanded its reach through partnerships with freight technology platforms including Loadlink Technologies and Trucker Path, allowing users of those platforms to access coverage for individual shipments.
Verified Carrier approaches the broader cargo fraud problem from a different point in the transaction.
Its platform is designed for brokers and shippers to verify carriers and drivers before a shipment is picked up, with fraud prevention forming a central part of the service.
The two companies are therefore addressing different sides of the same risk. Verified Carrier focuses on establishing that the carrier involved in a freight transaction is legitimate, while MiKargo247 provides financial protection for cargo once it is in transit.
The partnership brings those two functions together.
Verification can change the insurance coverage
Under the new process, a broker can use Verified Carrier to verify a carrier and then purchase MiKargo247 coverage for an eligible load. Once the requirements are met, the strategic theft exclusion can be removed for that shipment.
The companies said brokers can complete the process directly through the Verified Carrier platform. They can quote and bind MiKargo247 coverage and download an insurance certificate without leaving the existing workflow.
Alex Panfilov, founder and CEO of Verified Carrier, said the company’s objective is to protect the different parties involved in freight transactions by making fraudulent activity more difficult throughout the supply chain.
“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,” Panfilov said in the announcement. “Partnering with MiKargo247 is the natural next step.”
He also said the insurance benefit could give legitimate carriers an additional incentive to participate in the verification process.
“Verified carriers shouldn’t be penalized by exclusions that exist because of bad actors they’re nothing like,” Panfilov said. “This gives them a tangible benefit for doing things right.”
Connecting fraud prevention and cargo protection
For MiKargo247, the agreement is another step toward making spot cargo insurance available through the digital systems freight companies already use.
For Verified Carrier, meanwhile, the partnership extends carrier verification beyond identifying potentially fraudulent actors and into the insurance implications of that verification.
The companies’ approach is based on the idea that fraud prevention and cargo insurance do not necessarily have to remain separate elements of a freight transaction.
If a broker can establish who is actually hauling a shipment before the cargo is picked up, an insurer may have additional information with which to determine which risks can be covered.
That is the gap MiKargo247 and Verified Carrier are seeking to address: using carrier verification to make a category of cargo theft that has traditionally been excluded from spot insurance eligible for coverage.
Why this matters
Strategic cargo theft has become an increasingly important risk for brokers because criminals can exploit stolen identities, compromised accounts and fraudulent carrier information to obtain legitimate freight.
By connecting carrier verification with cargo insurance, the new offering provides brokers with another layer of protection against losses that traditional spot cargo policies may exclude. The partnership also illustrates how fraud prevention and insurance can be integrated earlier into the freight transaction rather than being treated as separate processes.
