Specialty Program Group Acquires Logistiq Insurance Solutions
Specialty Program Group LLC (SPG) has announced the acquisition of Logistiq Insurance Solutions and its merger with Anova Marine Insurance. This strategic consolidation will create a cohesive platform centered on cargo and logistics, specifically targeting risks associated with the global supply chain.
The integration effectively combines Anova's expertise in ocean cargo and digital underwriting with Logistiq's strengths in domestic transportation and risk intelligence. The expanded platform is set to offer comprehensive solutions tailored for freight forwarders, third-party logistics providers, and motor carriers, enhancing regulatory compliance and risk management support.
The leadership team for the new platform will be a joint effort between Bradford Boyd, current president of Anova Marine, and Glenn Stebbings, president of Logistiq Insurance. They will be supported by Julian Stokes, formerly of Dual Logistics, and Scott Cornell, previously from Travelers, bringing together diverse expertise in underwriting and claims oversight.
Julian Stokes, who joined Anova in 2025, will focus on developing non-marine initiatives and structuring complex liability programs. Meanwhile, Scott Cornell joins Logistiq as chief risk officer, concentrating on loss prevention strategies and enhancing carrier security measures amidst increasing regulatory compliance requirements.
Addressing Rising Cargo Theft and Fraud
Amid rising cargo volumes and severe losses, this merger seeks to bolster Anova’s automated underwriting technology and commitment to claims responsiveness. According to Boyd, these enhancements are crucial in adapting to evolving risks and offering adaptable coverage options.
Scott Cornell emphasizes that the partnership enhances Logistiq’s focus on proactive risk management, especially as cargo theft becomes more sophisticated. With cargo thefts reaching record numbers in North America in 2024, and organized crime targeting higher-value shipments, risk intelligence is more vital than ever.
SPG’s new operation will provide a range of products, including all-risk ocean and domestic cargo insurance, stock throughput policies, and logistics operator liability coverage. This acquisition signals the ongoing expansion of specialty MGA and program platforms, showcasing a trend towards integrating capacity with advanced data and risk engineering to meet the challenges of cargo theft, fraud, and geopolitical issues impacting major shipping routes.