Who We Serve
Freight Brokers
Who We Serve
How Freight Brokers and Transportation Brokers Can Benefit
Known by many names such as Transportation Broker, Property Broker or Truck Broker, the Freight Broker is a linchpin of the trade and logistics business. The freight broker contracts with motor carriers to move freight to destinations within Canada and, if properly licensed to do so, may also move goods into and out of the United States. The freight broker does not have care, custody or control of the cargo and does not operate the motortruck, but they may be held liable when the trucker’s insurance fails to cover loss to cargo. This is contingent liability, and there are coverages that step in to defend the freight broker if they are drawn into a claim. If the freight broker is licensed by the Federal Motor Carrier Safety Administration (FMCSA) to arrange interstate freight moves within the U.S., a BMC-84 surety bond is required for legal operation.
Who We Serve
Other solutions you may need
Do you have operations outside the parameters of strictly performing freight brokerage activities? You may have additional risk that needs to be considered. Never hesitate to contact your Roanoke insurance broker for guidance, and be sure to view the full compliment of logistics and supply chain solutions we have to offer. Depending on the additional services you offer, you might consider:
- Warehouse Legal Liability Insurance
- Bailee Liability Insurance
- Packer’s Liability Insurance
- Custodial Customs Bond
