UPS Capital, the subsidiary of UPS which offers supply chain insurance, has revealed it has bought Parcel Pro -a logistics provider to the jewellery and watches industries. The recent move will bring UPS Capital’s insurance offerings and Parcel Pro’s expertise in shipping luxury goods together.
Ronald Chang, President of UPS Capital, has said: “The synergies between UPS Capital and Parcel Pro will greatly benefit customers shipping high-value products. Many jewellery retailers have insurance policies that cover their inventory, but shipping losses are not always covered by these policies.”
Together, UPS Capital and Parcel Pro are expected to insure shipping within the USA up to a value of $150,000 per package, and internationally to specific locations up to a value of $100,000 per package.
Chief Executive of Parcel Pro, Joseph Lam, said: “Parcel Pro’s mission is to provide the most affordable, reliable, secure an convenient services for our industry customers to ship and insure valuable goods. We believe that the acquisition by UPS Capital supports our mission and will only benefit our customers, as well as UPS Capital customers who ship high-value items.”
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