I think the airlines have a similar setup for "lost" luggage.
I once shipped a very expensive component to Canada, the buyer paid out the nose for USPS international priority mail guaranteed delivery.
But he insisted that I not insure the item to avoid customs fees.
Delivery was guaranteed in 7 days, the package disappeared after 3 days.
I was in my post office everyday for a week, I thought that they where going to have me arrested.
I was finally assigned a claims adjuster named James with a direct contact number.
The package was finally located on a loading dock in Jamaica New York.
It was finally delivered two weeks late.
When I called James for a refund since the shipping was guaranteed, he no longer existed.
I then found out that FedEx Canada handled the final shipping and I called them for a refund and got the $120 shipping refunded.
Which I refunded to the buyer to help with his pain and suffering.
I have had more than my share of shipping nightmares.