Industry Insights

TRIA Reauthorization and the Transportation and Logistics Industry During the last eighteen months there has been ongoing debate over the reauthorization of the government-backed Terrorism Risk Insurance Act (TRIA), which is set to expire on December 31, 2014. There have been multiple hearings during this time with the most recent taking place the week of […]

Claims Made Vs. Occurrence-Based Insurance: The Debate Continues There is a lot of chatter about whether an Occurrence trigger vs. a Claims-made trigger is better for Errors & Omissions insurance coverage.  First, let’s understand the difference. Occurrence policies respond to claims that occurred during the policy term, regardless of when they are reported.  Claims-made forms […]

Cyber Liability Risks for Transportation and Logistics Companies Data breaches and privacy issues are at the forefront of our national discussion with high-profile cyber incidents making headline news, including the attack that hit retail giant Target this past holiday season, and concern over the potential increased risk of security breaches in the already often-targeted healthcare […]

What is Errors & Omissions Insurance? As a freight forwarder, you serve as the intermediary between your clients and various transportation services. You send products from one destination to another, which often can involve many carriers (air freighters, trucking companies, rail, and ocean liners) and a laundry list of requirements and regulations throughout the entire […]

Embedded GPS Devices Instrumental in Preventing Cargo Thefts, Vetting Drivers Also Key Last fall, FreightWatch Intelligence Center released a report citing the theft of cargo during a shipment of frozen seafood making its way from Massachusetts to California. Unbeknownst to the driver handling the shipment, the truck was embedded with a GPS locator that tracked […]

The eBond concept has been discussed by CBP, the surety industry and the customs broker community since the mid 1980’s. A 2011 DHS audit report essentially mandated that CBP centralize STB filing. This is achievable only via an eBond system. After decades of discussion, many industry members may be skeptical that eBond will happen. However, […]