Property Broker/Domestic Forwarder Bond Update

Karen has been a part of Roanoke for nearly 20 years. During this time, she has shown exceptional leadership skills and technical expertise in multiple customer-facing positions, such as Head of Marine & Liability Underwriting and Head of Liability Claims. Her most recent role was SVP, Chief Underwriting Officer, Marine at Munich Re Specialty Group N.A. where she was responsible for leading our inland, ocean and cargo liability underwriting teams. One of her notable contributions was developing essential insurance policies for our clients in the logistics sector. She also demonstrated outstanding dedication in promptly and favorably settling complex liability claims. […]

By Glenn Patton, Managing Director, Roanoke Insurance Group Canada, Inc.   The following are several important issues regarding the insurance industry and regulatory changes that impact freight brokers and forwarders. With so many Canadian freight brokers and forwarders conducting cross-border business, U.S. regulatory changes affect the entire industry. Nuclear verdicts in liability cases in the U.S. involving motor carriers have included freight brokers. Nuclear verdicts against trucking companies in the U.S. have reached tens and hundreds of millions of dollars in the past decade or so. In their lawsuits, plaintiffs in accidents with motor carriers have named all parties involved […]

The liability landscape for the trade and transportation industry is changing. Carrier accidents on the road resulting in bodily injury and property damage (BIPD) claims pose a real financial threat to brokers, forwarders, and other transportation intermediaries. Recently, the number of large trucks involved in fatal crashes and the resulting jury awards have skyrocketed. Inconsistent application of the law has put the burden of these “nuclear verdicts” on not just the carriers but also the broker-forwarders responsible for hiring the carriers. This volatile litigation landscape and the rise in “nuclear verdicts” has specifically led to two related issues for transportation […]