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Warehouse Crisis and the Future of Storage

Ever have to suddenly store 9 containers of PPEs? Or 20 containers of athletic shoes? Unfortunately, questions like this are now commonplace due to the supply-chain disruptions caused by the global pandemic. These questions, in addition to an assessment of current industry trends and innovative on-demand warehousing solutions were discussed on the recent webinar presented by the Airforwarders Association. Below are some of the key takeaways from the dynamic discussion. Prior to the Coronavirus crisis, on-demand warehousing was growing due to consumer demands for same-day and next-day shipping close to the source. And as we’ve seen in many sectors, the crisis has accelerated the pace of change. When the crisis hit early this year, supply chains were up-ended if not completely shut down. In many cases this has left freight forwarders searching for storage solutions for their shippers. According to Brandon Fried, AfA Executive Director, “we’re facing a plethora of concerns nowadays… especially as it relates to risk management…” On the webinar, Ken Kellaway, CEO E*Fill America and RoadOne Intermodal Logistics shared his perspective on current trends. Kellaway stated that, “the big dip in rates in transportation sector, should come back soon. Demand will accelerate as we open up the economy.” Also, he sees capacity tightening up on the truck side as well as the warehousing side, as the extensive inventory is starting to burn off again and big box stores are starting to reorder. He sees very strong rates on the air freight side of things since the planes have been grounded, but with the opening, more will shift back to ocean.  With further market corrections expected, this means continued uncertainty where unexpected warehousing of goods may still be needed.   Warehouse Insurance Policies & Risk Management in the Face of Supply Chain Disruptions Shippers and forwarders should plan for a future of supply-chain disruptions, thereby driving the need for warehousing and storage solutions. They should also consider the need for additional warehouse coverage for the items that now require storage. “There are many considerations to keep in mind for freight forwarders from a risk management perspective”, states Rick Bridges, VP of Roanoke Trade. “Forwarders need to know not only if the warehouses are insured, but what about the terms and conditions of warehouse insurance policies? How are they limiting their liability?” “And this really is not unlike transit,…
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TIA Virtual Lunch and Learn With Roanoke Panelist Glenn Patton on April 28th

Last updated on May 20th, 2020Join the TIA along with industry peers and participate in 20+ interactive webinars semi-weekly from April-June on Tuesdays and Thursdays from 12pm-1pm ET. On Tuesday, April 28, 2020, Roanoke’s Glenn Patton along with a panel of experts, will discuss your insurance coverage during the COVID-19 pandemic. Learn more about how best to protect your operations against claims from allegations of negligent hiring, vicarious liability, high-risk cargo, and other issues to consider before moving freight. Hear arguments to be made to shippers on why they should consider moving all their shipments through freight brokerage operations to avoid financial exposures. *This webinar is about risk management and is not intended to provide legal advice, for which those attending should consult their legal counsel.

Best Practices for Freight Forwarders: Mitigate Losses Due to COVID-19

Last updated on May 20th, 2020 Global shipping has been one of the biggest casualties in the wake of the coronavirus (COVID-19) pandemic with challenges getting cargo to and from the docks. The Port of Los Angeles, which handles more containers in a year than any other port in the Western Hemisphere, expects in the first three months of the year to experience the biggest decline in volume since the financial crisis of 2008, according to a recent article in the New York Times. The Port of Long Beach has already reported a 17.9% year-over-year drop in imports in February. According to the Maryland Port Administration, the Port of Baltimore’s sole container terminal was closed on March 12 and will close again March 17 in response to the decline in cargo volumes triggered by the coronavirus. As freight forwarders navigate the choppy waters of an increasingly fluid crisis resulting in air travel bans, port closures, cargo delays, and city lockdowns, we would like to address some of the issues regarding contractual liability and insurance coverage while at the same time stress the importance of implementing measures and best practices to help mitigate and minimize losses. Contractual Liability “Force majeure” in contractual agreements is the legal term to describe a situation or event in which the affected party has no control over the outcome. This includes Acts of God, war, riots, and terrorism. Most freight forwarders in their Master Service Agreements and Conditions of Carriage include a force majeure clause. Force majeure, when invoked and formally declared by a freight forwarder, protects an operation from having any responsibility for an event outside of its control. It’s important to reaffirm with your clients the force majeure clause that exists under the terms and conditions of the contract so that there aren’t any assumptions made in the event their cargo is delayed or stranded as a result of actions taken by a government during the coronavirus pandemic. Errors & Omissions Liability Shippers rely on freight forwarders to provide professional advice along with the ability to move cargo from point A to B. While it’s always important to underscore that delivery dates cannot be guaranteed under normal circumstances, it’s critical you make it even more clear that despite your best efforts to deliver products on time, failures may occur particularly during a time when…
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Incoterms® 2020 Webinar – What’s New for This Decade?

Last updated on May 20th, 2020The long-awaited changes to Incoterms® by the International Chamber of Commerce (ICC) are complete and published as Incoterms® 2020. Overall, the changes are regarded by the trade as positive, however, there are notable changes that should be carefully studied. In this webinar our speakers will address the following: • Refresher of Incoterms® history, purpose and use. • Review of most common Incoterms®. • Discussion of changes under Incoterms® 2020. • Practical observations and recommendations for sellers and buyers. Make plans today to join us on Wednesday, March 18th at 12pm CT for this informative event presented by Rick Bridges, Vice President – Client Development, Roanoke Trade and Gulde Alparslan & Christoph M. Wahner, Attorneys at Law, Countryman & McDaniel. This webinar has been approved by the NEI for 1 CCS/CES/MES credit.

Why Freight Forwarders Love ATA CARNETS

Last updated on March 5th, 2020 Karen Groff, president of Roanoke Insurance Group, was featured on the FREIGHTWAYS “What the Truck?!?” show at AirCargo 2020 in Nashville. Alongside Dooner and Chad, Karen shared everything a Freight Forwarder needs to know about ATA Carnets.   The trio kicked off their rollicking conversation with the basics on what the sometimes misunderstood ATA Carnets really are and why they are an important tool for Freight Forwarders.  Simply put, an ATA Carnet is an international customs document that functions like a passport for your goods. The ATA Carnet allows you to take merchandise into participating foreign countries without paying duties or taxes. You can even transit through multiple foreign countries or return to the U.S. and leave again on multiple trips on one ATA Carnet just as long as when the carnet expires, all the goods have made their final foreign exportation and are on their way back home.  Karen and the guys used an upcoming show in Canada as an example of how easy it is to apply for an ATA Carnet and how it works. Not only practical information, but we also learn some fascinating insights into the actual history of ATA Carnets.  Roanoke has been involved in ATA Carnets since 1978. The company was appointed by the US Council for International Business (the International Chamber of Commerce) to help spread the word about ATA Carnets due to Roanoke’s deep involvement in the transportation industry.  Please visit www.RoanokeTrade.com/carnet or CarnetsOnline.com for more information. 

Roanoke Trade’s Patrice Lafayette Appointed to FTA Board of Directors

Last updated on May 20th, 2020Roanoke Trade is proud to announce that Patrice Lafayette has been appointed to the Board of Directors of the Foreign Trade Association (FTA). Patrice is the Director of Sales for Roanoke Trade’s Western Region and she has been an active member of the FTA for almost a decade. This appointment furthers her commitment to serving as an informative resource on international trade topics affecting both the private and public sectors. “This two-year appointment to the Board of Directors is an honor, especially at this point in my career,” she noted. “I look forward to helping FTA further their mission as a leader in educational and networking opportunities in our industry.” Connect with Patrice on LinkedIn or via email. Having celebrated their 100th anniversary, the FTA’s mission is to promote, foster, and encourage international commerce and economic growth in California and worldwide. The FTA represents more than 200 members of the international trade community. Pedro Villanueva, President of the Board of Directors of the FTA, is especially optimistic about Patrice’s appointment. “To ensure another 100 years, we need young professionals to serve in leadership roles as we move the organization forward. Attracting smart, young professionals like Patrice is paramount to our growth as we evolve and modernize.” 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.

The Need for Cyber Insurance

Last updated on February 10th, 2020 Fraud. It happens every day. We think of protecting our personal interests, but what about our businesses, employees and clients? Are you prepared to handle the potentially crippling ramifications if your business is hacked or held for ransom? What is cyber insurance? Dealing with cyber crime is not as simple as paying a ransom and moving on. Freight forwarders are at heightened risk for targeting by cyber criminals because all of their business activities are conducted electronically. And while familiarity with the risks grows daily, cyber crime is still a relatively new exposure in the industry. Small and mid-size freight forwarders and logistics providers are at increasing risk of attack because they are typically not as secure, making them EASY TARGETS. To learn more about cyber claims and how Roanoke Trade can address your needs, listen to Rick Bridges, one of our experts in the field. The aim of a ransomware attack is quite simple: lock and encrypt a computer, then demand a ransom to restore access. Cyber criminals are looking to penetrate a company’s systems by whatever means possible  - but that’s only the beginning. While ransomware requests can potentially cost a company hundreds of thousands of dollars, the real costs are incurred after the fact. Oftentimes a forensic analysis must be conducted to identify and close access points, and there may be state and/or federal regulatory requirements of notifying customers of any breach of data. This is how businesses  –  especially the small to midsized ones  -  can be financially and reputationally decimated by an attack. This is why having the appropriate insurance coverage can be the difference between recovering or closing the doors for good. In addition to ransomware attacks, one of the biggest exposures facing the industry is social engineering exposures or phishing attempts. This is where a predator, posing as a trusted partner, sends an email, instant message, or text message requesting banking information, business data, and the like. The recipient is then tricked into clicking a seemingly legitimate yet malicious link thereby allowing access to sensitive information at that point or at a future time. Most common is a simple funds transfer request that looks very legitimate. These exposures have the potential to be crippling to a business. So how does a small to midsized freight forwarder prepare itself…
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3 Ways Roanoke Trade Simplifies Commercial Insurance for Logistics Service Providers

Last updated on May 20th, 2020 Are you frustrated when it comes to buying insurance for your logistics service provider business? You are not alone. Recent studies reveal that the buying process often leaves business owners and risk managers feeling overwhelmed, pressed for time and questioning whether they are buying the right coverages at the right price. The frustration is often amplified for logistics service providers who must invest significant time to educate generalist commercial insurance providers about the nuances of your industry. It doesn’t have to be this way.We already know what you do and how you do it. Half your battle is won! In case you didn’t know, our expertise extends to the intricacies of commercial insurance coverage. So, it makes sense to let us help you with your general commercial insurance as well. Here are three ways placing your commercial insurance in the hands of your specialty broker can help you make the best use of your time and get the right coverage at the right price for your business: Save Time by using a Specialist A single point of contact for your custom commercial insurance program results in better and faster communication with fewer administrative tasks. Save time explaining your business practices and filling out forms by placing all your insurance needs with a single specialist broker who has the broad overview of your risks to provide the best coverage. We all want simple, fast and responsive service, especially when there is a problem. When you have a claim or a coverage question, you need a direct line to help. It only takes one call to the right partner with the expertise and resources you need to answer all your coverage-related questions or respond to a claim. Plus, negotiating with multiple brokers during the renewal process is time-consuming and complicated. We can simplify and streamline this important process by getting your insurance placement right the first time, pre-filling many forms, and providing the use of PolicyTrackTM, an online portal to help you better manage your insurance portfolio. Avoid Overpaying You need cost-effective solutions for your complex insurance needs. As specialists in insuring the risks of logistics service providers, we employ proven strategies to maximize your coverage without increasing your costs. For example, did you know that certain liability exposures for logistics service providers can be added…
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The Ins and Outs of ATA Carnets – A Foreign Trade Association Seminar (4/7/2020)

Last updated on May 20th, 2020Join  Amanda Barlow, Roanoke’s Vice President of Client Experience on Tuesday, April 7th at the Courtyard Marriott in Downtown Long Beach for the Ins and Outs of  ATA Carnets. This seminar starts at 9am and registration and breakfast will commence at 8:30am. About the Seminar An ATA Carnet is an international customs document that provides duty-free customs clearance for temporary exports into over 100 countries. ATA Carnets simplify these temporary exports by eliminating the need to post a temporary import bond or pay the import duties and taxes to enter a foreign country. Virtually all goods, whether hand carried or cargo-shipped, may be covered by ATA Carnets. Highlights of the Ins and Outs of ATA Carnets include: ATA Carnet best practices Proper customs clearance procedures Managing inevitable breaches Extensions on ATA Carnet exports ATA Carnet country specific nuances Seminar Information Cost for members is $70, partners $85 and non-members $100. This seminar has been approved for 3 CCS/CES/MES NEI Credits. Cancellations are required within 5 business days of the event to receive a refund or to avoid being charged. Cancellations will not be accepted after this time and requests for seating after this time cannot be guaranteed. Non-attendance does not constitute cancellation and will still require payment. Limited on-site registrations will be available on a first-come, first served basis, unless the event sells out. 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.

Air Cargo 2020

Join the Roanoke Trade team at the AirCargo 2020 Conference in Nashville, Tennessee from January 26 – 28!  This yearly event brings together all actors in the air cargo supply chain in one location to discuss trends, challenges, opportunities and the future of the air cargo industry. Be sure to visit us at booth 614. For more information on this event, please click here. We hope you can join us!