Errors and Omissions

by Craig Nerger, Strategic Relationship Manager, Roanoke Insurance Group Customs brokers are essential facilitators of international trade, ensuring that goods are properly cleared through U.S. Customs while navigating a complex regulatory landscape. As advisors to importers and key figures in the global supply chain, brokers face significant risks, particularly when dealing with imports subject to anti-dumping duties (ADD). These duties, imposed to protect domestic industries from unfair pricing practices, present serious financial and liability challenges for importers and customs brokers. This article highlights the heightened risks associated with anti-dumping duties. It underscores the critical need for errors and omissions (E&O) […]

Most everyone involved in the logistics industry has or will have a claim story to tell. For example, your new hire did everything right on that shipment of auto parts headed to the Greenville BMW plant, except he directed them to Greenville, NC instead of Greenville, SC. That’s delay. That’s a claim. Or maybe you had a heavy project load coming off a ship in Newark and going overland to Syracuse. You told the trucker that the cargo required an airlift, but they sent a regular flatbed, and the whole rig toppled coming around the bend on the George Washington […]

An Additional Insured Clause is attached to a third-party liability policy in order to extend coverage provided under an insured’s policy to the party named within the clause. A third party, such as a client, vendor, or partner, typically will request additional insured status relating to services performed by the policyholder or as a condition outlined in a contract or agreement. For example, let’s say ABC Company leases building space from 123 Rentals. 123 Rentals requests that it be named as an additional insured on ABC’s Commercial General Liability policy. An individual slips in the building, breaks an ankle, and […]

Logistics service providers and transportation intermediaries in order to run well-oiled operations should possess the risk management tools needed to help minimize losses and transfer risk. There are a number of components required in having a strong risk management toolbox that will go the distance for optimum success.   These risk management toolbox components include well-drafted contracts with favorable terms and conditions and clearly stated responsibilities and obligations of each party along with FMCSA compliance. All contracts should be reviewed by an attorney along with an insurance broker to ensure you have the right insurance coverage in place to meet […]

Purchasing the right policies to protect your business, whether you are a transportation company or logistics service provider, is critical in ensuring that your exposures are adequately addressed in the event of a loss. There is a great deal that goes into securing the right insurance, including having proper property and liability limits for each of your policies. This is where working with an experienced transportation insurance firm such Roanoke Trade comes in. Commercial Property Insurance Your Commercial Property coverage is designed to protect your business against direct physical loss to your property that has been damaged or destroyed from […]

Offering your clients Cargo insurance to protect their goods against physical damage or loss while in transit is a valuable add-on service that helps you solidify your relationships. Having an on-line insurance application to automate the process of administrating your Cargo policy provides you with a number of key benefits, particularly with a system specifically designed for logistics service providers in mind. Roanoke Trade in developing CoverageDock™ provides clients with a number of benefits that go well beyond streamlining the process to report insured shipments and print out Certificates to clients. Our multi-faceted Cargo insurance management web application allows you […]