Industry Insights

The most recent figures from the Labor Department shows that the warehousing and storage sector geared up in November for the holiday season, adding 8,100 jobs to pick, pack and ship e-commerce orders. This number reflects the most jobs the sector has added in a single month since December 2015, according to an article in the Wall Street Journal (WSJ). The holiday job surge marks the eight straight month of expansion in the logistics sector as increasingly more people are purchasing goods on-line from Amazon and others. In fact, according to Adobe Systems Inc., shoppers spent a record $6.59 billion […]

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 […]

The race to get autonomous vehicles and vessels on the road and on our waterways is set to impact the way the logistics industry operates. While the reality of self-driving vehicles and vessels in still in the distant future, those throughout the logistics supply chain should be taking a close look at what is taking place and preparing for that day. Test runs have already been conducted or are being planned in the autonomous space. For example, Anheuser-Bush conducted a 120-mile driverless “beer run” last year between Fort Collins and Colorado Springs. Otto, the company behind the self-driving truck, expects […]

Did you know… You have the option to have FastBond™ automatically email you the completed CBP301 bond form upon bond approval from ACE or CBP. Watch the video to learn how or follow these instructions. Instructions From the HOME page, click the link Update Your Contact Information (or, click on the Maintenance menu User Settings) Then, click the checkbox Email CBP301  Click the Save button You only have to make this change once to have all future bond emailed to you directly from FastBond with the CB301 attached showing the new bond number on the form, too! What is FastBond™? […]

This blog written by Laura A. Otenti of Posternak Blankstein & Lund LLP examines how deregulation of the rail industry impacts the property broker bond required by the Federal Motor Carrier Safety Administration (FMCSA). Deregulation does not mean no regulation at all. The trick is figuring out which regulations remain in place and when. FMCSA Property Broker Bond Property brokers that operate in interstate commerce have to comply with the FMCSA’s financial security requirements. This means that the property broker has to post a bond (BMC-84) to ensure that motor carriers are paid for their services. When a broker hires a […]