The What, When and Why’s of Stock Throughput Policies

The What, When and Why’s of Stock Throughput Policies

If your client’s business involves assembling, importing, exporting, manufacturing, transporting, and/or distributing goods—a Stock Throughput Policy (STP) may be needed to cover their risk exposure.  What is a STP A STP is a form of marine coverage that protects a company’s goods throughout the global supply chain- from creation to final...

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Important Trends Impacting Inland Marine Insurance

Important Trends Impacting Inland Marine Insurance

A variety of trends—including gas shortages, shipping delays, inflation, extreme weather, and the COVID-19 pandemic—have significantly impacted the Inland Marine Insurance industry. This unprecedented volatility has led to increased rates, new exclusions, and tighter policy terms to limit losses. Inland Marine Insurance provides coverage for...

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CGL vs. Garage Liability Insurance: Which is Right for Your Client?

CGL vs. Garage Liability Insurance: Which is Right for Your Client?

Suppose your client is an auto dealer with a large lot of cars for sale. While rearranging cars on the lot, one of your employees accidentally crashes one car into another. Is this damage covered? Auto businesses have unique risks and, therefore, need specific insurance coverage and protection. Should your clients’ auto businesses have a...

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Beyond Compliance Program Faces Debates and Delays

Beyond Compliance Program Faces Debates and Delays

In 2015, then-President Barack Obama asked the transportation industry to incentivize motor carriers that were early adopters of safety technologies. Years later, the proposed “Beyond Compliance” program remains stalled. The program urged the Federal Motor Carrier Safety Administration (FMCSA) to improve their Safety Measurement System, rewarding...

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Exciting IoT and AI Technologies are Improving Truckers’ Safety

Exciting IoT and AI Technologies are Improving Truckers’ Safety

The trucking industry faces numerous challenges. Employee shortages mean less experienced drivers are on the road, which could negatively impact fleet safety and the ability to obtain insurance coverage. Fortunately, the industry is seeing the introduction of predictive safety and analytics technologies that are helping fleets reduce accidents,...

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The Pandemic’s Impact on the Transportation Industry

The Pandemic’s Impact on the Transportation Industry

If you insure truckers, trucking companies, or other clients that conduct business in the transportation sector, you may be wondering what impact the pandemic has had on the industry as a whole. Although transportation is generally considered an essential service, the pandemic left nearly no industry unaffected, transportation included. Your...

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What is Garagekeepers Liability & Who Needs It?

What is Garagekeepers Liability & Who Needs It?

When people bring vehicles to auto repair shops, garages, or towing companies for repair or maintenance, they trust these professionals to protect their cars from damage. As service providers, your clients are liable for the vehicles' safety while in their care. Unfortunately, accidents can and do happen, making both garage liability and...

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The Struggles with Securing Transport Excess Liability

The Struggles with Securing Transport Excess Liability

Excess Liability Coverage--It’s something every trucker or trucking company needs, and right now, many are having a hard time affording it. … and sometimes finding it. Rates have risen an average of 10-15% every year since 2010, and unlike Jencap, some carriers won’t provide it anymore.  Experts say the pandemic has given insurance companies a...

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On the Road: Talking to Your Charter Bus Clients

On the Road: Talking to Your Charter Bus Clients

Having the proper charter bus insurance coverage at an affordable rate can make the difference between the success and failure of your client’s charter bus operation. When your charter bus clients are considered for a job, there are several things they should prepare to share to ensure the safety of the passengers. Safety record and rating. A...

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How To Avoid a Garage Keepers Legal Liability Claim

How To Avoid a Garage Keepers Legal Liability Claim

Business owners who operate dealerships, garages and auto repair shops are responsible for keeping their client’s automobiles safe while in their care, custody and control. To avoid paying out of pocket for any damage you cause to a customer’s vehicle while undergoing service or repair, it’s important to have Garage Keeper’s Legal Liability...

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Ocean Marine: 3 Ways Your Client May Be At Risk

Ocean Marine: 3 Ways Your Client May Be At Risk

There are inherent risks to water-based activity, and we aren't talking about sea monsters. When water is involved, exposure exists, and your clients need to be protected. Here are three areas of potential risk: 1. Exposure accumulation in shipping. Cargo policies have a set coverage limit to cover losses or damage to goods. However, delays are...

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Come Fire or Flood… Why You Need Dealers’ Open Lot Insurance

Come Fire or Flood… Why You Need Dealers’ Open Lot Insurance

Dealers Open Lot insurance is essential for used auto dealers. Without it, businesses could end up on the hook for large losses if damage is caused to their fleet of vehicles. How does dealers' open lot insurance work? Dealers Open Lot (DOL) insurance provides auto physical damage coverage on a fleet of vehicles owned by a licensed auto dealer....

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Owner-Operators and Transportation Insurance

Owner-Operators and Transportation Insurance

Owner-operators in the transportation industry must carry the proper insurance coverage for the types of jobs they take on, particularly because the brokers and motor carriers they work with often pass the burden of maintaining proper insurance off to them directly. Insurance agents are such a valuable resource to owner-operator transportation...

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What Is Garage Liability Insurance?

What Is Garage Liability Insurance?

Does your client’s business handle customers’ vehicles – e.g., repair shops, auto dealerships, service stations, etc.?   Garage Liability insurance is a combination of General Liability and Auto Liability. It protects against potential liabilities for businesses in the automotive space including premises liability, auto liability, accidents...

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Why Auto Dealers Should Have False Pretense Coverage

Why Auto Dealers Should Have False Pretense Coverage

In the auto insurance world, the focus is rightfully put on the car buyer obtaining coverage to keep their new or new-to-them vehicle safe. But another portion of auto-related insurance that needs to be stressed is the important role that garage insurance plays in covering losses and incidents that can take place on sales lots. This is where a...

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What Kind of Insurance Should Food Delivery Drivers Have?

What Kind of Insurance Should Food Delivery Drivers Have?

It’s no secret that we as a society, especially as consumers, are glued to our phones. In fact, a recent survey of 2,000 Americans showed that we check our phones on average 80 times a day, with some checking their phones up to 300 times a day. You may be checking your phone while you read this. With this in mind, new mobile-based companies have...

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What is a Waiver of Subrogation and When Should It Be Used?

What is a Waiver of Subrogation and When Should It Be Used?

As for any and all contracts that need to be signed for professional services, everyone involved should understand the consequences of each clause. While this may sound like basic common sense, there are some people or companies that skip this step, taking for granted its straightforwardness. Your clients should be made aware of the waiver of...

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What’s The Difference between Garage Liability and Garagekeeper’s Insurance?

What’s The Difference between Garage Liability and Garagekeeper’s Insurance?

Do your clients know the difference between garage liability and garagekeepers insurance? While they may sound similar, they can be wildly different from each other, making it more than important to know exactly what is covered and what is at risk. To break it down easily, the difference in coverage is spelling out the difference between...

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Why False Pretense Coverage is Necessary for Garages

Why False Pretense Coverage is Necessary for Garages

For car dealers across the country, something like garage insurance is already somewhat confusing and problematic. It’s an unusual sort of coverage that dealers need, but insurance agents need to be able to convey its importance. What’s more, insurance agents need to be stressing the importance of false pretense coverage, which helps to close the...

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