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Three Freight Brokerage Trends That Concern Us

[vc_row][vc_column][vc_single_image image="6152" img_size="full"][vc_column_text]Read time: 5 minutes[/vc_column_text][vc_column_text]Increased traffic leads to an increase in accidents, which consequently leads to an increase in litigation. Every year, more and more freight brokers are pulled into litigation and the risks and responsibilities that go with it. Recent trends in the market are showing patterns that impact freight brokers in relation to a broker’s likelihood of b

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Excess Motor Truck Cargo Insurance: Three Reasons You Need It.

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What Exactly Is Excess Motor Truck Cargo Insurance?

[/vc_column_text][vc_single_image image="6022" img_size="full"][vc_column_text]The name Excess Motor Truck Cargo Insurance is somewhat self-explanatory– it is extra insurance coverage for cargo that goes above the amount of insurance held by a motor carrier. The more common question

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Insurance for Freight Brokers – 4 Myths You Shouldn’t Believe

[vc_row][vc_column][vc_single_image image="5995" img_size="full"][vc_column_text]Insurance can be a tricky topic, especially for freight brokers who are now more prone to litigation than ever before. Here are four of the most common myths we hear when it comes to freight broker insurance and why we need to dispel them once and for all so that your business is protected. And if you’re still not sure what insurance is right for your business, set up a f

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Contingent Cargo Insurance – How Much is Enough?

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Why Freight Brokers Need Contingent Cargo Insurance

[/vc_column_text][vc_single_image image="5983" img_size="full"][vc_column_text]It may seem like an unnecessary expense. Why would a freight broker need insurance coverage for cargo when that responsibility seems more aptly suited for the shipper who owns the cargo and the motor carrier who is tasked with transporting it safely? And don’t tho

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Everything You Should Know About Freight Broker Insurance Requirements

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How Is Your Freight Brokerage Open to Risk?

[/vc_column_text][vc_column_text]There are two primary ways that all freight brokerage firms are open to litigation risk. Understanding these risks is imperative for any freight broker business, given that so many cases involving motor carriers and freight brokers today have no caps on the size of judgments.

One way freight brokers are being f

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Operational Mistakes Freight Brokers Make That Increase Their Exposure to Litigation

[vc_row][vc_column][vc_single_image image="5926" img_size="full"][vc_column_text]The industry game is changing for freight brokers in the United States. If you’re a long-standing, experienced freight broker (and you’re lucky enough not to have been involved in any litigation yet), you may be unaware of the significant increase in legal fines and settlements being levied against freight brokers just in the past few years. Even newer freight brokerage firms and finding themselves caught off gu

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Are Your Shipper/Broker Contracts Putting You at Risk?

[vc_row][vc_column][vc_single_image image="5916" img_size="full"][vc_column_text]The freight broker industry is changing at a rapid pace. As more businesses moved to e-commerce, which was even more accelerated by the quarantines of COVID-19, the need for shipping services increased exponentially, and more motor carriers and freight brokers attempted to enter the market. With more freight broker competition, it may seem enticing to make certain allowances in your contracts with your shippers to c

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Three Strategies Freight Brokers Can Leverage To Win Bigger Clients

[vc_row][vc_column][vc_single_image image="5801" img_size="full"][vc_column_text]The Freight Brokerage industry is in a period of rapid change. According to a 2021 report by Verified Market Research, the US freight broker market was valued at $1.164B USD in 2020. That number is expected to reach $13.78B by 2028, a CAGR of over 36%.1[/vc_column_text][vc_column_text el_class="cagr-graph-section"]

US Freight Broker Market Valuation

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Your Freight Broker Clients Are Growing- What That Means For Premiums

[vc_row][vc_column][vc_single_image image="5808" img_size="full"][vc_column_text]Premium insurance increases-- it’s the necessary conversation that no insurance agent wants to have and with good reason. Each time premiums increase, there is a chance that your insurance clients may begin the process of shopping or even canceling their insurance. So why take the risk? We’re here to walk you through why it’s important to you and your freight broker clients that their insurance policy and p

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How to Help Your Freight Broker Clients Understand the Value of Coverage when They Say It’s Too Expensive

[vc_row][vc_column][vc_single_image image="5819" img_size="full"][vc_column_text]Listen, we need to have an important talk. We hear what you’re saying. The insurance industry is fiercely competitive. Differentiating yourself with commoditized insurance products while catering to clients that are laser-focused on price can be tricky. But whether you’re new to the freight-broker insurance market or if you’ve always focused on being a motor carrier insurance provider, we want you to know t

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