Contact an Insurance Specialist

Customer Login

Author Archives: Jason Palumbo

Cyber Risks and Supply Chain with Roanoke’s Glenn Patton

Live from AirCargo 2020, Roanoke Insurance Group’s Glenn Patton was featured on the FreightWaves INSIDERS podcast. In his conversation with supply chain expert Timothy Dooner of FreightWaves, Patton provides ways the transportation and logistics industry can be aware of the growing supply chain (including cyber) risks and stay competitive and relevant in these turbulent times. From high-end French chocolates, to truckloads of tablets, to even having to turn down the chance to insure the Declaration of Independence, Glenn Patton, VP of Business Development, shares his career’s worth of insurance and trade risk expertise with the podcast audience in this entertaining and educational interview. Glenn and Tim even discuss how Lloyd’s of London valued the insurance on NFL player Troy Polamalu’s hair! View the full interview below, or read on for more details. Premier among today’s supply chain risk concerns is the ever-growing threat of cyber crimes. Patton explained, “The (logistics) industry itself has reached the top 5% as the targets. Everything is done electronically now.” From issues as seemingly innocuous as fake invoices to nuclear-level cyber crimes of stealing data and ransomware, as the transportation and logistics field grows, so do cyber risks. While data and cyber crimes are now the biggest industry concern, traditional physical losses remain an ever present threat, and education remains the best way to mitigate the risk of loss. Besides assessing and insuring cyber risks, Roanoke proactively conducts webinars centered on supply chain risk and provides our online learning platform Knowledgeport to educate customers about current industry best practices as well as the fundamentals of cargo insurance, ATA Carnet, and customs bonds. In addition to supplying coverage for traditional freight and cargo, as part of the Lloyd’s of London syndicate, Roanoke Insurance Group has insured valuable and interesting commodities from around the world, including the ballots from the Iraqi election to music tour equipment for superstar bands like the Rolling Stones. Tours frequently cross international borders, and Roanoke is at the forefront of supplying ATA Carnets to facilitate the passage of equipment through customs and avoid the cost of duties and tariffs. While piracy remains a tremendous threat to freight and cargo on the move, sometimes that cargo is digital. As Patton cited, data breaches and ransom demands from cyber criminals can be more costly than actual loss to cargo. Cyber insurance policies are constantly…
Read more…

2019 Holiday Hours

  In observance of the upcoming Christmas holiday, our offices will close at 1:00PM on Tuesday, December 23rd and remain closed on Christmas day Wednesday December 25th, reopening the morning of Thursday, December 26th. In observance of New Year’s, our offices will close at 3:00PM on Tuesday, December 31st, remain closed on Wednesday, January 1st and resume normal business hours on Thursday, January 2nd. We wish you the best during this holiday season and happiness in the New Year!

Limits of Liability for Air Carriers Set to Increase

Last updated on December 23rd, 2019Increase Expected for Limits of Liability Established by the Montreal Convention In a message to members of the Airforwarders Association, Regulatory Compliance Committee Chairman Bob Imbriani states, “The liability for international air cargo (Montreal Convention) is increasing from 19 to 22 SDR per kilo effective December 28, 2019. The International Civil Aviation Organization (ICAO) has proposed a 13.9% increase to the Montreal Convention’s liability limits following completion of its quinquennial review. The increase is based on the accumulated rate of inflation (weighted by reference to the average Consumer Price Indices of the United States, Japan, China, European Union and the United Kingdom) since 2008, when the last adjustment was made. This means that the current limits of liability will be adjusted as follows:”                   Air freight forwarders and indirect air carriers are encouraged to continue current best practices when it comes to their transportation insurance policies. Procuring shipper’s interest cargo coverage for your clients on each and every shipment is still the best way to ensure that losses to goods are covered. The increased air carrier limits of liability will not suffice to meet the potential cost of loss in most cases, and the need to prove carrier negligence remains a concern that cargo insurance alleviates. The need to maintain your own liability coverages of course does not change with the carrier limits either. However, some changes to current documentation and procedures may be necessary. Airforwarders Association Chairman Imriani explains, “While the liability of the actual air carrier will increase it can also have an effect on the limits of a Freight Forwarder/Indirect Air Carrier who issues their own airway bills and generally mirror the terms and conditions of the actual air carrier. It is important that all members who issue their own airway bills check their terms and conditions and any carrier’s liability coverage they may have to determine what change they may feel are required.” Details of the change to the Montreal Convention limits of liability can be viewed at the ICAO website. Please don’t hesitate to contact your local Roanoke Trade team with any questions you may have about this change or to discuss the right coverages for your business.

Roanoke Delivers Insights on General Average and Tariffs at CONECT 2019

In the past few years there have been 22 major shipboard fires on mega container vessels. Treacherous weather and other unplanned events also wreak havoc on shipments. Recently, one mega container vessel lost 517 containers. Another had 325 containers go overboard. These unfortunate situations result in, potentially, millions in damage and months of lost productivity. Cargo owners and stakeholders are wondering what can be done to better protect their cargo and minimize supply chain disruptions. Do you understand what to do when General Average occurs? If you’re attending CONECT, the Coalition of New England Companies For Trade’s Annual Northeast Trade and Transportation Conference, then we have you covered. The 23rd annual conference is in Newport, RI, April 9-12, 2019. Rick Bridges, Roanoke Trade’s Vice President, will be attending and sharing his insights and expertise on two panels at the 23rd annual CONECT conference. Rick will be sharing his insights on Vessel Fires and Cargo Insurance in a discussion moderated by HC Starck’s Christa Hurley. Rick will also be sharing his expertise on basic supply chain risk management and cargo insurance, and he will discuss the intricacies of General Average. Rick will be discussing the momentum that is currently building on safety management and how the industry can reduce the number of incidents. The big question is: will the industry be able to self-regulate before government intervention? Joining Rick will be Captain Glenn Walker of Atlantic Marine. Glenn’s experience as both captain on container vessels and marine surveyor will give a unique perspective on how a vessel casualty unfolds along with the arduous task of salvaging cargo post-incident. Rick is also participating on another panel focused on Import 101. The topics will cover the current state of importing into the US with discussion focused on the effects of the recent tariffs on several commodities. Rick will be speaking about how these tariffs are affecting an importer’s customs bond limits and what importers can expect in the bond underwriting process. Joining Rick will be attorney Paula Connolly and, from C.H. Robinson, Tara Iannelli and John Coogan. Roanoke Trade is proud to participate in this important annual industry event. We hope to meet up with you there. And be sure to sign up to KnowledgePort™, your destination for practical and relevant training courses to enhance the success of your business. These online courses…
Read more…

Roanoke Helps 3PLs Diversify and Grow Supply Chains at TIA 2019

The highly competitive domestic 3PL marketplace offers opportunities for companies to set themselves apart not only through high service standards, but also by offering a portfolio of multimodal solutions. However, knowing how to build intermodal expertise and who to partner with are complex hurdles along the path to success. Fortunately, Roanoke’s David Pasco, VP of Sales, will be sharing his insights and expertise to help 3PLs at his presentation titled, “Building a Supply Chain Value Proposition” on Saturday, April 13. The following topics will be covered. How to provide value through risk assessment. How to recognize the liability pitfalls assumed through contracts. “Inspect it or don’t inspect it” setting KPIs for continued success. David will delve into the topics of understanding how to build the internal expertise to offer intermodal, air or ocean solutions. He will work through a value proposition framework to help you chart the path to success. And, if partnering is a better option, you will get tips on how to find peers that are already active in those modes. The opportunity is now. Every shipper has different service requirements, and 3PLs willing to invest in methods to help shippers manage their global supply chain will be in a strong competitive position and poised for growth. Find Us in the Exhibit Hall If you can’t make the talk, you can find us in the exhibit hall at booth # 111. Please stop by to say hello and also pick up some gifts that we’re giving away at the booth. Also, we’d be happy to share key takeaways from David’s presentation. We hope to see you in Orlando. Roanoke Trade, a division of Roanoke Insurance Group and part of Munich Re Specialty Group Ltd., operates as a specialty insurance broker focused on surety and insurance solutions for transportation intermediaries, 3PLs, customs brokers and companies with supply chains, and is a leading provider of customs bonds, marine cargo insurance and ATA Carnets for the industry.  

Announcing an Expansion to KnowledgePort™

Roanoke Trade is pleased to announce the expansion of our KnowledgeportTM online training course catalogue. Roanoke is committed to assist our clients in navigating the complexities of insurance and to produce and promote industry best practices education, and KnowledgeportTM is our web-based education platform dedicated to the needs of our clients. The educational material on KnowledgeportTM comes in two forms: online interactive courses composed of one or more lessons and recorded webinars led by industry experts including Roanoke team members and partner companies. Existing topics covered include Best Practices for Risk Management, ATA Carnets, Customs and Surety Bonds, Cargo Insurance, and Errors & Omissions Insurance.   We are excited to let you know that in February we will be releasing a new ATA Carnet Fundamentals interactive course. You will learn about the ATA Carnet document and the process of temporary importation. The lesson will give insights into the many benefits of using an ATA Carnet. The course will cover what types of goods qualify for an ATA Carnet, the three types of temporary importation that fall under the ATA carnet, and how goods on the ATA Carnet may be exempted from other government requirements.   Additional courses planned for release in the 2019 calendar year include Anti-Dumping and Countervailing Duties, an important topic in light of the ongoing “trade wars”, as well as additional transportation insurance related courses.     Best of all, KnowledgeportTM learners can earn NEI continuing education credits from anywhere at any time, and KnowledgeportTM access is free to Roanoke clients.     For bulk registration of multiple learners, call your local Roanoke contact.