Cargo Insurance: Business Opportunity or E&O Risk?
Insuring the freight transported by America’s motor carriers can be an exceptional opportunity for independent agents—but it can also lead to errors & omissions claims.
Insuring the freight transported by America’s motor carriers can be an exceptional opportunity for independent agents—but it can also lead to errors & omissions claims.
The current trucking insurance marketplace escapes simple “soft” or “hard” market categorization—it’s much more complex.
Autonomous trucks are on the horizon, and the new technology they entail will hopefully improve safety. But that won’t happen any time soon—and certainly not soon enough to provide any relief to the current driver shortage crisis.
To succeed in the trucking insurance market, independent agent John Glinski III says “you either have to have both feet in or both feet out. You can’t really dabble in it.”
If you insure any motor carrier or business that is involved in shipping, transporting or receiving food, you and your insureds need to know about the Food Safety Modernization Act.
Picture this: You’re driving along on the highway and glance up at an 18-wheeler. There’s no one in the cab. It may sound like science fiction, but the capacities of autonomous systems are accelerating rapidly, alongside their numbers—and heavy-duty truck
Trucking insurance was the family business for independent agent Kathy Miller, who now has 35 years of experience under her belt in this tough niche.
The new Unified Registration System, effective this October, mandates stricter enforcement of requirements that every “motor carrier” maintain a DOT number, pay the required fees to the Unified Carrier Registration—and more.
The government’s broad definition of “motor carrier” means regulation of the trucking industry may impact commercial clients you don’t even consider to be trucking insureds.
In December 2015, Congress passed the FAST Act to address safety issues within the trucking industry. Do you know what the new legislation means for your trucking clients?