I just returned from my first trip after putting on my GlobalPass bag tags. Though I didn't lose a bag, I did lose a bag tag.
I posted the loss on my profile page at the web site for the tags. My posting was answered the same day with a personal note from them verifying that it was only the tag and stating that they would be sending me a replacement at no charge.
Theyr'e off to a fine and worthwhile start, in any case!