Articles
Insurance
Inside Job: Embedding Risk Protection Where Freight Decisions Happen
For decades, cargo insurance has been an afterthought in freight operations, an administrative box to tick after rates are negotiated and the load is on the move. That separation made sense when every policy required phone calls, paperwork, and manual underwriting. But in a digital, data-driven supply chain, risk protection can no longer live outside the workflow. It belongs inside it.
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The Impact of Double Brokering: How It Happens and How to Mitigate It
Double brokering has always been an issue in the freight industry but it has taken an alarming upward turn in the past year. It’s vital to assess exactly what’s causing the surge in double brokering, and what the implications are for shippers.
Read MoreCOVID-19 Pandemic: Do Your Shipments Have the Right Protection?
Despite the many events that can disrupt today’s complex global supply chains, shippers too often don’t make cargo risk-management planning a priority for their business. But now, with the emergence of the coronavirus and its disruption of global trade, many shippers are seeing the value in such planning. Shipping delays are a very real possibility […]
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How 3PLs Can Minimize Claims and Help Customers Understand Liability
3PLs can become an ally for their customers in the event of a loss, damage, or delay, providing outstanding customer service and support during the claims process.
Read MoreAre Warehouse Insurance Policies Covering Today’s Emerging Risks?
Warehouse legal liability insurance has always been one of the most misunderstood insurance contracts in existence. In general, insurance companies and brokers have limited industry knowledge and understanding of what warehouse operations entail. Not only that, but warehouse risks and vulnerabilities are increasingly complex, and many policies simply aren’t keeping up with today’s sophisticated new […]
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Placing a Premium on Cargo Insurance
Buckle up! Cargo insurance protects your goods if they are damaged, stolen, or lost while in transit.
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When to File Loss and Damage Claims: Know Your Rights
Damage, loss, and delays are inescapable. When these events occur, the shipper has to file a claim to recover the loss. Shippers should understand the claims process and law because the legal principles are unique to the shipping industry. First, it is important to understand that a cargo claim is based on a breach of […]
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Transportation Liability: Busting Seven Common Myths
What you don’t know about transportation liability can cost you big time. Learn fact from fiction before you tender your next load.
Read MoreControlling Transportation Insurance Costs
Developing rates for cargo in-transit insurance coverage is as much an art as a science. Underwriters consider the products shipped; susceptibility to loss and damage; number of shipments; trade lanes travelled; and transportation methods and modes. But insurance premiums are also driven by a firm’s loss history. While some of these variables may be out […]
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Understanding INCOTERMS 2010
An Inbound Logistics article in October 2003, “Understanding Incoterms,” does an excellent job of explaining the concept of Incoterms, why they are necessary and how they work. We’d like to bring this article up-to-date with a discussion of the changes to Incoterms that began in January 2011. To recap, Incoterms are an internationally accepted set […]
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Reducing Risk with Trade Disruption Insurance
Because doing business in the global marketplace has become more risky, U.S. companies need to be their own best advocates. Exporters and importers should take precautions to minimize risks to profitability and viability in world trade. One step is investing in trade disruption insurance (TDI). SMART PROTECTION First written for the London Market in the […]
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New Year, New Insurance Review
The start of the new year is the time to make resolutions, and risk managers should resolve to review their operations to ensure that risk and insurance programs are in order. Your risk review should address several key questions: Are you planning to offer new services? If so, consider your insurance obligations before the transaction […]
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