Insuring the Freight

Freight moves domestically and across borders every day using various combinations of road, rail, ship, etcetera, but one thing all that freight - and all the providers who have a stake in it - have in common is insurance. On the latest episode of The Intermodal Logistics Podcast, guest Mark Vickers, EVP of International Logistics for Reliance Partners, discusses cargo insurance - including what it is, why it's needed, why coverage depends on the situation and how it's influenced by outside factors.

He particularly spotlights Borderless Coverage, a product he initially came up with to cover valuable freight beyond the U.S. borders and into Mexico and Canada - all with one policy. Mark tells us about the security issues facing cross-border freight and the prior lack of coverage options. He also talks about over the top coverage options for specific scenarios like high value freight or cargo normally not shipped by a particular provider. And he explains why strong insurance can be a differentiator in winning business, even if it means a freight provider's bid is a bit higher.

We also discuss potential tariff impacts on the industry as well as inflation - which not only impacts everyone's bottom line but also makes a difference as to the type of cargo thieves target.

Learn more about Reliance Partners at https://reliancepartners.com/ and look up Mark on LinkedIn here https://www.linkedin.com/in/mark-vickers-a90a6710/ for more from him. Plus, find out about the upcoming 8th Annual Modernization of Cross Border Trade event in Texas here https://www.eventbrite.com/e/8th-annual-modernization-of-cross-border-trade-tickets-1112890809369?aff=oddtdtcreator.

Subscribe or follow now to catch new episodes as soon as they're out, and please do rate and review us. Have a question? Contact us at [e-mail]. And visit our website, www.inteklogistics.com to learn more.