UPS Capital, a division of UPS, has acquired Parcel Pro, which provides shipping services to jewelry and watch businesses.
Ronald Chang, president of UPS Capital, said in a statement that the acquisition enhances his company’s risk mitigation capabilities.
UPS Capital and Parcel Pro are now able to insure packages worth up to $150,000 within the United States and up to $100,000 to select international countries, a statement said. This means shippers will not have to split up their packages to receive insurance coverage, it added.
Chang noted that many jewelry insurance policies do not cover shipping losses, and the new combination means greater “piece of mind” to shippers of high-value items.