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	<title>FreightWaves Archives | Commercial Transportation &amp; Trucking Insurance - Reliance Partners</title>
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		<title>Nuclear Verdicts, Rising Costs, and the New Reality of Motor Carrier Insurance</title>
		<link>https://reliancepartners.com/freightwaves/nuclear-verdicts-rising-costs-and-the-new-reality-of-motor-carrier-insurance/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Thu, 18 Dec 2025 21:07:24 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4723</guid>

					<description><![CDATA[<p>The motor carrier insurance market remains one of the most challenging environments the trucking industry has faced. Persistent premium increases, shrinking capacity, nuclear verdicts, and stricter underwriting standards continue to put pressure on fleets of all sizes. At Reliance Partners, we work alongside motor carriers every day to help them navigate these realities. Recently, our Executive Vice President of Sales, Jackson Alexander, shared insight with [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/nuclear-verdicts-rising-costs-and-the-new-reality-of-motor-carrier-insurance/">Nuclear Verdicts, Rising Costs, and the New Reality of Motor Carrier Insurance</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="416" data-end="685">The motor carrier insurance market remains one of the most challenging environments the trucking industry has faced. Persistent premium increases, shrinking capacity, nuclear verdicts, and stricter underwriting standards continue to put pressure on fleets of all sizes.</p>
<p data-start="687" data-end="1008">At Reliance Partners, we work alongside motor carriers every day to help them navigate these realities. Recently, our Executive Vice President of Sales, Jackson Alexander, shared insight with <em data-start="883" data-end="897">FreightWaves</em> on the forces shaping today’s insurance landscape &#8211; and what carriers must do to stay competitive and insurable.</p>
<h3 data-start="1010" data-end="1053">Nuclear Verdicts Are Driving the Market</h3>
<p data-start="1055" data-end="1285">Nuclear verdicts have become one of the most significant drivers of insurance cost and availability. Since 2012, verdicts exceeding $1 million have increased by more than <strong data-start="1226" data-end="1234">235%</strong>, dramatically shifting how insurers evaluate risk.</p>
<p data-start="1287" data-end="1475">For fleets, this has elevated the importance of <strong data-start="1335" data-end="1366">proactive safety management</strong>. Preparation, documentation, and prevention are no longer best practices—they are underwriting requirements.</p>
<p data-start="1477" data-end="1784">Reliance Partners’ in-house <strong data-start="1505" data-end="1527">Safety Impact Team</strong>, made up of former state patrol officers, DOT inspectors, and insurance loss control professionals, works directly with clients to strengthen safety programs, improve CSA scores, and implement defensible risk management practices that stand up to scrutiny.</p>
<p data-start="1786" data-end="1935">Carriers that demonstrate a proactive approach to safety are consistently better positioned when incidents occur and when underwriters evaluate risk.</p>
<h3 data-start="1937" data-end="1987">Technology Is Now a Requirement, Not an Option</h3>
<p data-start="1989" data-end="2169">The underwriting process has evolved rapidly. What were once optional incentives—such as telematics sharing or in-cab cameras—are now increasingly required just to receive a quote.</p>
<p data-start="2171" data-end="2208">Many insurance providers now mandate:</p>
<ul data-start="2209" data-end="2312">
<li data-start="2209" data-end="2236">
<p data-start="2211" data-end="2236">Telematics data sharing</p>
</li>
<li data-start="2237" data-end="2262">
<p data-start="2239" data-end="2262">In-cab camera systems</p>
</li>
<li data-start="2263" data-end="2312">
<p data-start="2265" data-end="2312">Collision avoidance and monitoring technology</p>
</li>
</ul>
<p data-start="2314" data-end="2546">Fleets that choose not to adopt these tools are finding themselves excluded from preferred markets altogether. Technology-backed data has become a critical component of how insurers assess safety performance and long-term viability.</p>
<h3 data-start="2548" data-end="2576">Capacity Remains Limited</h3>
<p data-start="2578" data-end="2762">Auto liability capacity remains constrained, forcing insurers to be highly selective. To access competitive programs, fleets must meet a narrow set of underwriting criteria, including:</p>
<ul data-start="2763" data-end="2923">
<li data-start="2763" data-end="2789">
<p data-start="2765" data-end="2789">Favorable loss history</p>
</li>
<li data-start="2790" data-end="2811">
<p data-start="2792" data-end="2811">Strong CSA scores</p>
</li>
<li data-start="2812" data-end="2850">
<p data-start="2814" data-end="2850">A qualified and stable driver pool</p>
</li>
<li data-start="2851" data-end="2883">
<p data-start="2853" data-end="2883">Documented safety procedures</p>
</li>
<li data-start="2884" data-end="2923">
<p data-start="2886" data-end="2923">Consistent use of safety technology</p>
</li>
</ul>
<p data-start="2925" data-end="3011">Missing any one of these benchmarks can significantly limit options in today’s market.</p>
<h3 data-start="3013" data-end="3077">Why More Fleets Are Exploring Captives and Higher Retentions</h3>
<p data-start="3079" data-end="3234">Commercial auto liability has been unprofitable for insurers for <strong data-start="3144" data-end="3168">14 consecutive years</strong>, creating sustained upward pressure on rates across the industry.</p>
<p data-start="3236" data-end="3322">As a result, many well-managed fleets are exploring alternative strategies, including:</p>
<ul data-start="3323" data-end="3584">
<li data-start="3323" data-end="3447">
<p data-start="3325" data-end="3447"><strong data-start="3325" data-end="3361">Group captive insurance programs</strong>, which allow rates to be driven by member performance rather than market volatility</p>
</li>
<li data-start="3448" data-end="3584">
<p data-start="3450" data-end="3584"><strong data-start="3450" data-end="3486">Higher deductibles or retentions</strong>, enabling safety-focused carriers to assume more risk in exchange for greater long-term control</p>
</li>
</ul>
<p data-start="3586" data-end="3724">These approaches reward disciplined risk management and allow fleets to better align insurance costs with their actual safety performance.</p>
<h3 data-start="3726" data-end="3773">A Mixed Outlook Across Other Coverage Lines</h3>
<p data-start="3775" data-end="3878">While auto liability remains the most challenged line, other coverages present a more balanced picture:</p>
<ul data-start="3879" data-end="4267">
<li data-start="3879" data-end="3968">
<p data-start="3881" data-end="3968"><strong data-start="3881" data-end="3901">Excess liability</strong> continues to experience pressure due to nuclear verdict exposure</p>
</li>
<li data-start="3969" data-end="4028">
<p data-start="3971" data-end="4028"><strong data-start="3971" data-end="3995">Auto physical damage</strong> has remained relatively stable</p>
</li>
<li data-start="4029" data-end="4105">
<p data-start="4031" data-end="4105"><strong data-start="4031" data-end="4050">Cargo insurance</strong> is seeing increases driven by theft and fraud trends</p>
</li>
<li data-start="4106" data-end="4267">
<p data-start="4108" data-end="4267"><strong data-start="4108" data-end="4159">Workers’ compensation and occupational accident</strong> coverage remains one of the few consistently profitable lines, often resulting in flat or reduced pricing</p>
</li>
</ul>
<h3 data-start="4269" data-end="4307">What This Means for Motor Carriers</h3>
<p data-start="4309" data-end="4526">Today’s insurance environment demands excellence across every dimension insurers evaluate. Fleets must invest in safety, embrace technology, maintain compliance, and actively manage loss history to remain competitive.</p>
<p data-start="4528" data-end="4720">At Reliance Partners, we help carriers take a comprehensive, strategic approach to insurability—aligning safety, data, and coverage strategy to support long-term success in a difficult market.</p>
<p data-start="4756" data-end="4915">Read the full article from our friends at <a href="https://www.freightwaves.com/news/nuclear-verdicts-and-rising-costs-inside-the-motor-carrier-insurance-crisis">FreightWaves</a>.</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/nuclear-verdicts-rising-costs-and-the-new-reality-of-motor-carrier-insurance/">Nuclear Verdicts, Rising Costs, and the New Reality of Motor Carrier Insurance</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>The Case for Cyber Insurance in Today’s Freight Economy</title>
		<link>https://reliancepartners.com/freightwaves/the-case-for-cyber-insurance-in-todays-freight-economy/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Thu, 02 Oct 2025 15:58:25 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4684</guid>

					<description><![CDATA[<p>Cargo theft and fraud aren’t edge cases anymore, they’re business realities. Reported cargo theft rose 57% in 2023, with losses topping $1B (and that’s only what’s reported). As criminals lean on sophisticated cyber tactics, the entry point into your operation is often digital even when the loss is physical. “Both motor carriers and freight brokers need cyber liability insurance, and the policy should include coverage [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/the-case-for-cyber-insurance-in-todays-freight-economy/">The Case for Cyber Insurance in Today’s Freight Economy</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="85" data-end="401">Cargo theft and fraud aren’t edge cases anymore, they’re business realities. Reported cargo theft rose 57% in 2023, with losses topping $1B (and that’s only what’s reported). As criminals lean on sophisticated cyber tactics, the entry point into your operation is often digital even when the loss is physical.</p>
<blockquote data-start="403" data-end="728">
<p data-start="405" data-end="728">“Both motor carriers and freight brokers need cyber liability insurance, and the policy should include coverage for both financial loss and physical loss of goods,” says Jessie Merritt, EVP of Sales at Reliance Partners. “The digital nature of our current theft environment requires a similar risk management approach.”</p>
</blockquote>
<h2 data-start="730" data-end="756">Why cyber coverage now?</h2>
<p data-start="757" data-end="837">Threats have evolved well beyond classic phishing or wire fraud. Bad actors are:</p>
<ul data-start="838" data-end="1068">
<li data-start="838" data-end="921">
<p data-start="840" data-end="921">Spoofing identities (including deepfakes) and impersonating carriers or brokers</p>
</li>
<li data-start="922" data-end="965">
<p data-start="924" data-end="965">Altering documents like Bills of Lading</p>
</li>
<li data-start="966" data-end="1068">
<p data-start="968" data-end="1068">Acquiring small carriers to build trust, then stealing loads once lanes and processes are understood</p>
</li>
</ul>
<blockquote data-start="1070" data-end="1261">
<p data-start="1072" data-end="1261">“The level of attack we see today is different and constant,” Merritt notes. “It’s theft at a massive scale, and the broker or carrier’s cyber environment is the most critical entry point.”</p>
</blockquote>
<h2 data-start="1263" data-end="1302">What a strong cyber policy should do</h2>
<p data-start="1303" data-end="1349">A comprehensive cyber liability policy should:</p>
<ul data-start="1350" data-end="1718">
<li data-start="1350" data-end="1425">
<p data-start="1352" data-end="1425">Cover financial losses (e.g., social engineering, ransom/extortion)</p>
</li>
<li data-start="1426" data-end="1523">
<p data-start="1428" data-end="1523">Include property/physical loss elements tied to a cyber event (not just monetary damages)</p>
</li>
<li data-start="1524" data-end="1621">
<p data-start="1526" data-end="1621">Provide incident response, legal guidance, and reputational support to restore operations</p>
</li>
<li data-start="1622" data-end="1718">
<p data-start="1624" data-end="1718">Complement (not replace) your cargo policy (many cargo forms exclude cyber-triggered losses)</p>
</li>
</ul>
<blockquote data-start="1720" data-end="1897">
<p data-start="1722" data-end="1897">“A lot of protection is afforded by a good cyber policy as long as the insurer will pay some element of property damage in a claim and not just monetary damage,” says Merritt.</p>
</blockquote>
<h2 data-start="1899" data-end="1953">Risk is both “straight theft” and “strategic theft”</h2>
<p data-start="1954" data-end="2235">From ransomware-style load holds (e.g., a $40,000 ransom demand on a reefer) to sophisticated impersonation schemes, carriers and brokers face simultaneous physical and digital exposures. That’s why rounding out traditional insurance with cyber liability is now non-negotiable.</p>
<blockquote data-start="2237" data-end="2414">
<p data-start="2239" data-end="2414">“We’re encouraging clients to buy coverage in a way that reflects their risk,” Merritt adds. “Rounding out coverage with cyber liability is now necessary to reduce that risk.”</p>
</blockquote>
<h2 data-start="2416" data-end="2462">Prevention + Protection</h2>
<p data-start="2463" data-end="2522">Insurance is just one layer. Strengthen your defenses with:</p>
<ul data-start="2523" data-end="3114">
<li data-start="2523" data-end="2655">
<p data-start="2525" data-end="2655"><strong data-start="2525" data-end="2550">Identity verification</strong>: Rigorously verify subcontractors and carrier IDs; use carrier identity solutions and real-time alerts</p>
</li>
<li data-start="2656" data-end="2764">
<p data-start="2658" data-end="2764"><strong data-start="2658" data-end="2680">Document integrity</strong>: Validate Bills of Lading and rate confirmations; train teams to spot alterations</p>
</li>
<li data-start="2765" data-end="2887">
<p data-start="2767" data-end="2887"><strong data-start="2767" data-end="2784">Cyber hygiene</strong>: MFA everywhere, least-privilege access, patching cadence, phishing simulations, vendor risk reviews</p>
</li>
<li data-start="2888" data-end="3002">
<p data-start="2890" data-end="3002"><strong data-start="2890" data-end="2914">Operational controls</strong>: Real-time load tracking, geo-fencing, pickup/delivery PINs, and escalation protocols</p>
</li>
<li data-start="3003" data-end="3114">
<p data-start="3005" data-end="3114"><strong data-start="3005" data-end="3018">Playbooks</strong>: Clear incident response plans that coordinate IT, legal, ops, and insurance notification steps</p>
</li>
</ul>
<h2 data-start="3116" data-end="3149">How Reliance Partners can help</h2>
<p data-start="3150" data-end="3389">We build coverage programs that align with your real-world exposure across cargo, contingent cargo/primary cargo, and cyber liability and we pair them with practical loss-control guidance so you’re not just reacting, you’re preventing.</p>
<p data-start="3391" data-end="3615">Let’s pressure-test your program. We’ll review your current policies, identify cyber-related exclusions that could leave gaps, and recommend coverage and control upgrades tailored to your lanes, tech stack, and partners.</p>
<p data-start="3617" data-end="3764" data-is-last-node="" data-is-only-node=""><a href="http://www.reliancepartners.com"><b>Learn more about Reliance Partners</b></a></p>
<p data-start="3617" data-end="3764" data-is-last-node="" data-is-only-node=""><a href="https://www.freightwaves.com/news/the-case-for-cyber-insurance">Read the full article from our friends at FreightWaves. </a></p>
<p>The post <a href="https://reliancepartners.com/freightwaves/the-case-for-cyber-insurance-in-todays-freight-economy/">The Case for Cyber Insurance in Today’s Freight Economy</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<item>
		<title>Tackling Freight Budgeting in 2025: Insights from Thom Albrecht</title>
		<link>https://reliancepartners.com/freightwaves/tackling-freight-budgeting-in-2025-insights-from-thom-albrecht/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Tue, 19 Aug 2025 16:06:08 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4656</guid>

					<description><![CDATA[<p>The freight industry is entering 2025 with new challenges &#8211; volatile rates, shifting demand, and ongoing labor pressures. To help businesses navigate this landscape, FreightWaves and J.B. Hunt are hosting an exclusive webinar on Tuesday, August 26, at 2 PM ET, spotlighting strategies for smarter freight budgeting. Reliance Partners’ Perspective Our own Thom Albrecht, Chief Revenue Officer at Reliance Partners, will join the panel to [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/tackling-freight-budgeting-in-2025-insights-from-thom-albrecht/">Tackling Freight Budgeting in 2025: Insights from Thom Albrecht</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="300" data-end="619">The freight industry is entering 2025 with new challenges &#8211; volatile rates, shifting demand, and ongoing labor pressures. To help businesses navigate this landscape, FreightWaves and J.B. Hunt are hosting an exclusive webinar on <strong data-start="527" data-end="561">Tuesday, August 26, at 2 PM ET</strong>, spotlighting strategies for smarter freight budgeting.</p>
<h2 data-start="621" data-end="656">Reliance Partners’ Perspective</h2>
<p data-start="658" data-end="1060">Our own <strong data-start="666" data-end="727">Thom Albrecht, Chief Revenue Officer at Reliance Partners</strong>, will join the panel to share his decades of experience in transportation and logistics. Since beginning his career in 1988, Thom has seen the industry evolve through cycles of growth and disruption. Today, he leads Reliance Partners’ efforts to pair innovative insurance solutions with the fast-paced demands of modern logistics.</p>
<p data-start="1062" data-end="1463">At Reliance Partners, we’ve built a reputation for delivering <strong data-start="1124" data-end="1170">customized, API-driven, on-demand coverage</strong> that gives carriers and brokers the flexibility they need to remain resilient in unpredictable markets. Thom’s expertise in bridging the worlds of insurance and freight allows us to support businesses across the U.S., Canada, and Mexico with protection that keeps pace with industry shifts.</p>
<h2 data-start="1465" data-end="1496">Key Topics Thom Will Cover</h2>
<p data-start="1498" data-end="1550">During the webinar, Thom will provide insights on:</p>
<ul data-start="1551" data-end="1852">
<li data-start="1551" data-end="1665">
<p data-start="1553" data-end="1665"><strong data-start="1553" data-end="1584">Capacity and labor dynamics</strong> – availability, utilization, and how shifting policies impact freight budgets.</p>
</li>
<li data-start="1666" data-end="1741">
<p data-start="1668" data-end="1741"><strong data-start="1668" data-end="1689">Market volatility</strong> – navigating demand swings and rate fluctuations.</p>
</li>
<li data-start="1742" data-end="1852">
<p data-start="1744" data-end="1852"><strong data-start="1744" data-end="1766">Strategic planning</strong> – building the tools and contingency strategies needed for forecasting beyond 2025.</p>
</li>
</ul>
<p data-start="1854" data-end="2122">As the freight market continues to be defined by rapid change, having reliable, forward-looking strategies is critical. Thom will help attendees understand how to align budgeting practices with operational realities to stay competitive in the months and years ahead.</p>
<h2 data-start="2124" data-end="2161">Industry Leaders Coming Together</h2>
<p data-start="2163" data-end="2526">Thom will be joined by industry experts including <strong data-start="2213" data-end="2294">Spencer Frazier, Executive Vice President of Sales and Marketing at J.B. Hunt</strong>, and <strong data-start="2300" data-end="2376">Zach Strickland, Director of Freight Market Intelligence at FreightWaves</strong>. Together, this panel will deliver SONAR-powered insights and actionable strategies to help companies remain agile in the evolving freight economy.</p>
<p data-start="2548" data-end="2673">We encourage anyone involved in freight budgeting, capacity planning, or risk management to join this important discussion.</p>
<p data-start="2675" data-end="2719"><a href="https://event.on24.com/wcc/r/5005025/DEB6774C7242905FAC7FFD6A134B4C13">Register here to secure your spot.</a></p>
<p data-start="2726" data-end="2787"><strong data-start="2726" data-end="2785">Read the full article from our friends at FreightWaves <a href="https://www.freightwaves.com/news/how-to-tackle-freight-budgeting-in-2025">here</a>.</strong></p>
<p>The post <a href="https://reliancepartners.com/freightwaves/tackling-freight-budgeting-in-2025-insights-from-thom-albrecht/">Tackling Freight Budgeting in 2025: Insights from Thom Albrecht</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>How Fleets Can Strengthen Their Post-Accident Response</title>
		<link>https://reliancepartners.com/uncategorised/how-fleets-can-strengthen-their-post-accident-response/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Thu, 01 May 2025 17:24:43 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<category><![CDATA[Uncategorised]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4585</guid>

					<description><![CDATA[<p>Accidents are an unfortunate part of the trucking industry, but how your fleet responds can make all the difference in safety, liability, and insurance outcomes. At Reliance Partners, we believe preparation is key and we’re here to share essential guidance from our very own experts, Senior VP of Sales Ryan Miller and Director of Safety Daniel Vega. Safety First, Always The first step after any [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/uncategorised/how-fleets-can-strengthen-their-post-accident-response/">How Fleets Can Strengthen Their Post-Accident Response</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p class="" data-start="224" data-end="574">Accidents are an unfortunate part of the trucking industry, but how your fleet responds can make all the difference in safety, liability, and insurance outcomes. At Reliance Partners, we believe preparation is key and we’re here to share essential guidance from our very own experts, Senior VP of Sales Ryan Miller and Director of Safety Daniel Vega.</p>
<h3 class="" data-start="576" data-end="600">Safety First, Always</h3>
<p class="" data-start="602" data-end="958">The first step after any accident is ensuring the safety of everyone involved. “Call 911 immediately,” advises Vega. “If the accident is nonfatal and it’s safe to do so, move vehicles out of the lane of traffic to a secure area.” Drivers should also check on others involved, document who is on scene, and note any responding officers or medical personnel.</p>
<h3 class="" data-start="960" data-end="996">The Importance of Fast Reporting</h3>
<p class="" data-start="998" data-end="1367">Reporting the incident to your insurance provider as soon as possible can help avoid legal complications and set the claims process in motion. “How quickly a claim is turned in is probably the number one thing insurers look at,” said Miller. Fleets should submit claims immediately &#8211; or by the next day at the latest &#8211; depending on the driver’s ability to give a statement.</p>
<h3 class="" data-start="1369" data-end="1389">What to Document</h3>
<p class="" data-start="1391" data-end="1586">Clear documentation is critical. Drivers should safely capture photos from all angles, collect relevant paperwork, and provide a written statement as soon as they can. Insurers typically request:</p>
<ul data-start="1588" data-end="1748">
<li class="" data-start="1588" data-end="1605">
<p class="" data-start="1590" data-end="1605">Driver’s name</p>
</li>
<li class="" data-start="1606" data-end="1636">
<p class="" data-start="1608" data-end="1636">Motor Vehicle Record (MVR)</p>
</li>
<li class="" data-start="1637" data-end="1655">
<p class="" data-start="1639" data-end="1655">Bill of lading</p>
</li>
<li class="" data-start="1656" data-end="1690">
<p class="" data-start="1658" data-end="1690">Dashcam footage (if available)</p>
</li>
<li class="" data-start="1691" data-end="1719">
<p class="" data-start="1693" data-end="1719">Photographs of the scene</p>
</li>
<li class="" data-start="1720" data-end="1748">
<p class="" data-start="1722" data-end="1748">A written driver statement</p>
</li>
</ul>
<h3 class="" data-start="1750" data-end="1767">What to Avoid</h3>
<p class="" data-start="1769" data-end="2050">Some actions can jeopardize your claim and your coverage. “Never flee the scene, delay reporting, or try to handle the claim without your insurer,” warned Vega. Even if your driver believes they’re not at fault, failing to report an accident can backfire if new information arises.</p>
<h3 class="" data-start="2052" data-end="2076">Why Training Matters</h3>
<p class="" data-start="2078" data-end="2412">Insurance carriers place high value on fleet safety training programs. “Training is a silent difference maker,” said Miller. Carriers that invest in simulators, certifications, and on-road evaluations are more likely to receive favorable insurance pricing and terms. These investments also strengthen a fleet’s risk profile over time.</p>
<h3 class="" data-start="2414" data-end="2461">The Role of Accident Frequency and Severity</h3>
<p class="" data-start="2463" data-end="2739">One accident can affect insurance differently based on fleet size. A single crash could severely impact a one-truck operation, while larger fleets are typically evaluated on frequency over severity. That said, consistent safety practices are essential for fleets of all sizes.</p>
<h3 class="" data-start="2741" data-end="2785">Preventable vs. Nonpreventable Accidents</h3>
<p class="" data-start="2787" data-end="3039">Even accidents deemed “nonpreventable” are investigated by insurers. Miller explains, “Preventability matters, but good driving behavior is what really counts. Judges may still assign some liability.” That’s why a proactive safety culture is essential.</p>
<p class="" data-start="3061" data-end="3307">The best way to protect your drivers and your business after an accident is to plan ahead. Train your team, document everything, and report incidents promptly. As Vega puts it, “We’d all like to see fewer accidents, and that starts with training.”</p>
<p class="" data-start="3314" data-end="3467"><em data-start="3314" data-end="3465">Interested in protecting your fleet with a strong safety and insurance strategy? <a class="" href="https://www.reliancepartners.com" target="_new" rel="noopener" data-start="3396" data-end="3463">Contact Reliance Partners</a>.</em></p>
<p data-start="3314" data-end="3467">Check out the full article on FreightWaves for more insights <a href="https://www.freightwaves.com/news/how-fleets-can-strengthen-post-accident-response">here</a>.</p>
<p>The post <a href="https://reliancepartners.com/uncategorised/how-fleets-can-strengthen-their-post-accident-response/">How Fleets Can Strengthen Their Post-Accident Response</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Prepare for CVSA&#8217;s 2025 International Roadcheck with Reliance Partners</title>
		<link>https://reliancepartners.com/freightwaves/prepare-for-cvsas-2025-international-roadcheck-with-reliance-partners/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Mon, 03 Mar 2025 18:46:42 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4564</guid>

					<description><![CDATA[<p>As the largest targeted enforcement event for commercial motor vehicles approaches, it’s critical for drivers and carriers across North America to ensure they are fully prepared for the upcoming Commercial Vehicle Safety Alliance (CVSA) International Roadcheck, scheduled for May 13-15, 2025. This high-visibility, 72-hour inspection event spans Canada, Mexico, and the United States, focusing on compliance enforcement for commercial motor vehicles. This year, the Roadcheck [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/prepare-for-cvsas-2025-international-roadcheck-with-reliance-partners/">Prepare for CVSA&#8217;s 2025 International Roadcheck with Reliance Partners</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p data-start="102" data-end="552">As the largest targeted enforcement event for commercial motor vehicles approaches, it’s critical for drivers and carriers across North America to ensure they are fully prepared for the upcoming <a href="https://cvsa.org/programs/international-roadcheck/">Commercial Vehicle Safety Alliance (CVSA) International Roadcheck</a>, scheduled for May 13-15, 2025. This high-visibility, 72-hour inspection event spans Canada, Mexico, and the United States, focusing on compliance enforcement for commercial motor vehicles.</p>
<p data-start="554" data-end="625">This year, the Roadcheck will put particular emphasis on two key areas:</p>
<ol data-start="627" data-end="1057">
<li data-start="627" data-end="788"><strong data-start="630" data-end="640">Tires:</strong> Inspectors will closely examine tires for tread depth, proper inflation, and signs of damage such as air leaks, cuts, bulges, and tread separation.</li>
<li data-start="789" data-end="1057"><strong data-start="792" data-end="826">Records-of-Duty Status (RODS):</strong> Inspectors will carefully scrutinize hours-of-service records to ensure compliance and avoid driver fatigue. Discrepancies, such as electronic logging device (ELD) tampering or incorrect use of driving categories, will be flagged.</li>
</ol>
<h3 data-start="1059" data-end="1124"><strong data-start="1059" data-end="1124">How to Stay Ahead of Inspections: Tips from Reliance Partners</strong></h3>
<p data-start="1126" data-end="1407">At Reliance Partners, we understand the importance of preparing for inspections, and we’re here to help you navigate the process to ensure compliance. Our regulatory compliance expert, Mark Barlar, Director of DOT Regulatory Compliance, shares some key tips for drivers and fleets.</p>
<p data-start="1409" data-end="2009"><strong data-start="1409" data-end="1466">1. Tire Inspections: Don’t Wait Until the Last Minute</strong> Tires are a frequent point of failure during inspections, and they can lead to significant issues if not properly maintained. Barlar recommends performing regular tire inspections throughout a trip, not just at the start and end. “Visual checks before and after the trip often miss critical areas of the tire,” Barlar said. “Drivers should take the opportunity to inspect tires whenever they stop for any reason during the trip. The more often you check, the better chance you have of identifying potential issues before they become problems.”</p>
<p data-start="2011" data-end="2684"><strong data-start="2011" data-end="2084">2. Records-of-Duty Status: Stay On Top of Hours-of-Service Compliance</strong> RODS compliance is a critical factor that can’t be addressed last-minute. Barlar stresses the importance of maintaining accurate logs for the entire week leading up to the Roadcheck. Inspectors will review logs for the past seven days, and any discrepancies can lead to enforcement action. To avoid violations, carriers should double-check drivers’ hours of service and ensure proper logging of breaks, trailer numbers, and bill-of-lading information. “Being diligent now about hours-of-service and logbook accuracy will help ensure smooth inspections during the Roadcheck period,” Barlar explained.</p>
<p data-start="2686" data-end="3110"><strong data-start="2686" data-end="2723">3. ELDs: Be Prepared for Scrutiny</strong> Inspectors will focus on long-haul truck drivers, making it crucial for OTR carriers to be prepared. Barlar recommends reviewing the ELD malfunction instruction sheet and having essential documentation ready in the permit book, such as blank logbook pages, ELD manuals, and transfer instructions. Being familiar with these materials before an inspection can save time and reduce stress.</p>
<p data-start="3112" data-end="3523"><strong data-start="3112" data-end="3151">Why Partner with Reliance Partners?</strong> Reliance Partners is committed to helping our clients stay compliant and protected. We specialize in commercial transportation insurance and understand the unique challenges that trucking companies face. Our team of experts can provide tailored insurance solutions, including coverage for cross-border operations, ensuring that your fleet is both protected and compliant.</p>
<p data-start="3525" data-end="3818">With our industry-leading knowledge and experience, Reliance Partners is here to help you navigate the complexities of insurance and regulatory compliance. Don’t let the International Roadcheck catch you off guard—partner with us to ensure your insurance coverage is as reliable as your fleet.</p>
<p data-start="3820" data-end="4109">Visit <a href="http://www.reliancepartners.com" target="_new" rel="noopener" data-start="3826" data-end="3881">reliancepartners.com</a> today to learn more about how we can help your business thrive with customized insurance solutions. If you have any questions or concerns, don’t hesitate to reach out to Mark Barlar directly at <a rel="noopener" data-start="4076" data-end="4108">mark.barlar@reliancepartners.com</a>.</p>
<p data-start="4111" data-end="4366" data-is-last-node="" data-is-only-node="">Prepare now for the International Roadcheck and make sure your fleet is ready for anything the inspectors throw your way. With the right preparation and the right insurance partner, you can face inspections with confidence and keep your business on track.</p>
<p data-start="4111" data-end="4366" data-is-last-node="" data-is-only-node="">Check out the full article on FreightWaves for more insights <a href="https://www.freightwaves.com/news/is-your-fleet-ready-for-cvsas-2025-international-roadcheck">here</a>.</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/prepare-for-cvsas-2025-international-roadcheck-with-reliance-partners/">Prepare for CVSA&#8217;s 2025 International Roadcheck with Reliance Partners</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Telematics is Changing the Game in Trucking Insurance Underwriting</title>
		<link>https://reliancepartners.com/freightwaves/telematics-is-changing-the-game-in-trucking-insurance-underwriting/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Mon, 16 Dec 2024 20:55:54 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4549</guid>

					<description><![CDATA[<p>At Reliance Partners, we recognize the growing role of telematics in reshaping the trucking insurance landscape. With insurance premiums increasing by an average of 5% annually in recent years, carriers and insurers alike are seeking innovative solutions to manage costs and promote safety. For over a decade, the trucking insurance market has faced profitability challenges, largely due to factors such as rising cargo theft and [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/telematics-is-changing-the-game-in-trucking-insurance-underwriting/">Telematics is Changing the Game in Trucking Insurance Underwriting</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>At Reliance Partners, we recognize the growing role of telematics in reshaping the trucking insurance landscape. With insurance premiums increasing by an average of 5% annually in recent years, carriers and insurers alike are seeking innovative solutions to manage costs and promote safety.</p>
<p>For over a decade, the trucking insurance market has faced profitability challenges, largely due to factors such as rising cargo theft and nuclear verdicts. These issues have driven up premiums, putting financial pressure on motor carriers. While external economic factors like fluctuating fuel costs or revenue per mile have little impact on insurance costs, as noted by Jackson Alexander, Executive Vice President of Sales at Reliance Partners, insurers focus on reducing claims risk to achieve sustainability.</p>
<h3>How Telematics Is Transforming the Industry</h3>
<p>Telematics technology is leading the charge in helping insurers better assess and price risk while encouraging safer driving practices among carriers. By analyzing data such as harsh braking, sharp turns, speeding, and following distances, insurers can pinpoint behaviors that frequently lead to accidents.</p>
<p>For insurtech companies—insurance providers that heavily rely on technology—telematics data has become a cornerstone of underwriting. Companies like HDVI and Nirvana evaluate 90 days of historical telematics data before offering quotes, requiring carriers to share driving behavior insights as part of the process.</p>
<p>While incorporating telematics into underwriting doesn’t guarantee immediate premium reductions, many insurtechs are offering competitive rates. Their belief is that leveraging telematics data provides a more comprehensive view of risk compared to traditional metrics such as CSA scores and loss runs. However, carriers must still address other risk factors, as red flags in other areas can affect rates regardless of favorable telematics data.</p>
<h3>Benefits for Carriers and Insurers</h3>
<p>The adoption of telematics presents mutual advantages:</p>
<ul>
<li><strong>For Carriers</strong>: Opportunities to control insurance costs, improve safety, and foster a culture of accountability.</li>
<li><strong>For Insurers</strong>: The ability to build sustainable business models and more accurately price risk.</li>
</ul>
<p>By integrating telematics, the trucking industry is taking a critical step toward mitigating the challenges of rising premiums and fostering a safer, more efficient transportation ecosystem.</p>
<p><b>Learn more from the full story on FreightWaves. </b></p>
<p>The post <a href="https://reliancepartners.com/freightwaves/telematics-is-changing-the-game-in-trucking-insurance-underwriting/">Telematics is Changing the Game in Trucking Insurance Underwriting</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Revolutionizing Carrier Insurance with Reporting Style Policies</title>
		<link>https://reliancepartners.com/freightwaves/revolutionizing-carrier-insurance-with-reporting-style-policies/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Mon, 09 Dec 2024 16:56:37 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4544</guid>

					<description><![CDATA[<p>At Reliance Partners, we understand that no two motor carriers operate the same way. That&#8217;s why we&#8217;re proud to provide insights into a flexible insurance model that could transform how carriers manage their premiums: reporting-style insurance. Insurance is one of the top five expenses for carriers, and traditional policies often come with static, inflexible premiums. Reporting-style insurance, however, offers a tailored approach by calculating premiums [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/revolutionizing-carrier-insurance-with-reporting-style-policies/">Revolutionizing Carrier Insurance with Reporting Style Policies</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>At Reliance Partners, we understand that no two motor carriers operate the same way. That&#8217;s why we&#8217;re proud to provide insights into a flexible insurance model that could transform how carriers manage their premiums: reporting-style insurance.</p>
<p>Insurance is one of the top five expenses for carriers, and traditional policies often come with static, inflexible premiums. Reporting-style insurance, however, offers a tailored approach by calculating premiums based on actual usage metrics like mileage or revenue. This model ensures carriers pay for the coverage they need—nothing more, nothing less.</p>
<h3><strong>How It Works</strong></h3>
<p>Reporting-style insurance relies on accurate operational data reported monthly, quarterly, or as specified in the policy. This data-driven model adjusts premiums dynamically based on the carrier’s real-time activity, providing cost-effective coverage that aligns with fluctuating operational demands.</p>
<p>There are two primary types of reporting-style insurance:</p>
<ul>
<li><strong>Mileage Reporting:</strong> Premiums are based on the miles driven each month.</li>
<li><strong>Unit Reporting:</strong> Premiums are calculated based on the number of tractor units in operation.</li>
</ul>
<p>As Kevin Dupree, our Executive Vice President of Sales, explains, “Carriers only pay for the miles they run. At the end of the month, the insurance company calculates your premium based on mileage, safety scores, and other factors. It’s a flexible model that adapts to changes like new drivers, commodities hauled, or fluctuating equipment usage.”</p>
<h3><strong>Why Consider Reporting-Style Insurance?</strong></h3>
<p>The key benefit is flexibility. Unlike scheduled policies, reporting-style insurance adapts to changing operations, whether due to seasonal work, holiday periods, or fluctuations in equipment usage.</p>
<p>With advanced telematics and insurtech innovations, tracking and reporting mileage is becoming easier, streamlining the administrative process. However, carriers must commit to timely and accurate data reporting to maintain the policy.</p>
<p>While this insurance model may not suit every carrier, it offers a dynamic, cost-saving alternative for businesses with variable activity levels. For carriers with steady operations, traditional insurance may remain the preferred choice due to its stability and predictability.</p>
<h3><strong>Learn More</strong></h3>
<p>Reporting-style insurance is reshaping the industry, and Reliance Partners is here to guide carriers through their options. Discover how flexible insurance solutions can work for your business.</p>
<p>Read the full article on FreightWaves for a deeper dive into reporting-style insurance and its impact on motor carriers: <a href="https://www.freightwaves.com/news/insurance-based-on-reported-miles-per-month-offers-flexibility-to-carriers" target="_new" rel="noopener">Insurance Based on Reported Miles Per Month Offers Flexibility to Carriers</a>.</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/revolutionizing-carrier-insurance-with-reporting-style-policies/">Revolutionizing Carrier Insurance with Reporting Style Policies</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Understanding the Importance of Cross-Border Insurance in a Complex Market</title>
		<link>https://reliancepartners.com/freightwaves/understanding-the-importance-of-cross-border-insurance/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Wed, 04 Dec 2024 19:48:44 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4541</guid>

					<description><![CDATA[<p>As trade between the U.S. and Mexico continues to thrive, cross-border freight volumes are surging in 2024. However, this growth comes with challenges that demand careful attention, including visibility, safety, cargo theft, and insurance coverage. Reliance Partners is at the forefront of helping shippers, carriers, and brokers navigate these complexities, ensuring smooth and secure cross-border operations. Why Cross-Border Insurance Matters Mexico presents unique risks for [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/understanding-the-importance-of-cross-border-insurance/">Understanding the Importance of Cross-Border Insurance in a Complex Market</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>As trade between the U.S. and Mexico continues to thrive, cross-border freight volumes are surging in 2024. However, this growth comes with challenges that demand careful attention, including visibility, safety, cargo theft, and insurance coverage. Reliance Partners is at the forefront of helping shippers, carriers, and brokers navigate these complexities, ensuring smooth and secure cross-border operations.</p>
<h3>Why Cross-Border Insurance Matters</h3>
<p>Mexico presents unique risks for freight, including a high rate of cargo theft. Data from Reliance Partners’ <strong>Cargo Truck Hijacking Portal</strong> revealed a 3% increase in reported hijackings in 2023. With the stakes so high, having the right insurance coverage is essential, but it’s equally important to know where that policy is underwritten.</p>
<p>Mark Vickers, Reliance Partners’ Executive Vice President and Head of International Logistics, stresses the importance of aligning with a U.S.-based insurance provider for cross-border operations. Unlike Mexican-based policies, U.S.-issued Mexican cargo insurance ensures claims are resolved in the U.S., providing more reliable outcomes for shippers and brokers.</p>
<h3>Key Differences in U.S. and Mexican Policies</h3>
<p>Mexican cargo insurance policies often carry significant limitations:</p>
<ul>
<li><strong>Lenient Liability Requirements:</strong> Mexican carriers’ liability for cargo damage is capped at approximately $1,250 for a 40,000-pound load—far less than the actual value, which averages $60,000 to $130,000 per shipment.</li>
<li><strong>Numerous Exclusions:</strong> Many Mexican policies include burdensome documentation requirements and exclusions, creating hurdles for claim payouts.</li>
<li><strong>Negligence-Based Liability:</strong> In Mexico, carriers are only responsible for damage caused by negligence, leaving shippers at risk.</li>
</ul>
<p>Without comprehensive insurance, disputes over financial responsibility for damages often arise, delaying resolutions and straining cross-border partnerships.</p>
<h3>Reliance Partners’ Solution: Borderless Coverage</h3>
<p>To address these challenges, Reliance Partners developed<a href="http://www.borderlesscoverage.com"> <strong>Borderless Coverage</strong></a>, a solution designed to ensure seamless insurance coverage across borders. This program connects shippers, carriers, and brokers with U.S.-based underwriters who specialize in Mexican cargo insurance, removing the uncertainty of traditional policies.</p>
<p>Borderless Coverage provides critical benefits:</p>
<ul>
<li><strong>Expedited Claims:</strong> Claims are paid directly to the shipper, allowing uninterrupted operations while Reliance Partners works to recover costs.</li>
<li><strong>Transparent Policies:</strong> Pricing reflects the realities of cross-border risk, ensuring shippers aren’t left vulnerable.</li>
<li><strong>Simplified Coverage:</strong> Policies eliminate the need for carriers to meet unrealistic requirements, reducing disputes and fostering collaboration.</li>
</ul>
<p>Vickers emphasizes that Borderless Coverage allows companies to focus on growth and capacity rather than navigating insurance pitfalls. This is especially critical as nearshoring initiatives drive cross-border trade, increasing the need for robust partnerships.</p>
<h4>Join the Conversation at the 8th Annual Modernization of Cross-Border Trade</h4>
<p>To support the industry further, Reliance Partners will host the <a href="https://borderlesscoverage.com/modernization-of-cross-border-trade/"><strong>8th Annual Modernization of Cross-Border Trade</strong></a> event in Laredo, Texas, on June 17, 2025. This event will explore topics like:</p>
<ul>
<li>Preparing for the 2026 United States-Mexico-Canada Agreement review.</li>
<li>Cross-border warehouse strategies.</li>
<li>Practical technology solutions for 2025.</li>
<li>Customs brokerage best practices.</li>
</ul>
<p>With expert speakers and insights from top organizations, this event is an essential resource for anyone involved in cross-border trade.</p>
<hr />
<p>For a deeper dive into this topic, check out the full article on FreightWaves: <a href="https://www.freightwaves.com/news/theres-no-substitute-for-the-right-cross-border-insurance" target="_new" rel="noopener">There’s No Substitute for the Right Cross-Border Insurance</a>.</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/understanding-the-importance-of-cross-border-insurance/">Understanding the Importance of Cross-Border Insurance in a Complex Market</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Is This The End of The Freight Recession?</title>
		<link>https://reliancepartners.com/freightwaves/is-this-the-end-of-the-freight-recession/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Tue, 12 Nov 2024 18:34:12 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4509</guid>

					<description><![CDATA[<p>Reliance Partners’ Chief Revenue Officer, Thom Albrecht, recently shared his expert insights on the potential end of the freight recession during an episode of What the Truck?!? hosted by Dooner. As we approach 2025, Albrecht offered predictions about the trucking market’s recovery and the factors shaping its trajectory. The Path to Market Recovery Earlier this year, Albrecht forecasted a turning point in March 2025, signaling [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/is-this-the-end-of-the-freight-recession/">Is This The End of The Freight Recession?</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><iframe title="Thom Albrecht on WHAT THE TRUCK?!?" width="1170" height="658" src="https://www.youtube.com/embed/MzjpJ8vzLIM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p>
<p>Reliance Partners’ Chief Revenue Officer, Thom Albrecht, recently shared his expert insights on the potential end of the freight recession during an episode of <em>What the Truck?!?</em> hosted by Dooner. As we approach 2025, Albrecht offered predictions about the trucking market’s recovery and the factors shaping its trajectory.</p>
<h3>The Path to Market Recovery</h3>
<p>Earlier this year, Albrecht forecasted a turning point in March 2025, signaling the end of the freight recession. His projections, which suggested carriers would move beyond merely scraping by, are increasingly supported by emerging data. Recent developments indicate the freight market may approach equilibrium even earlier than anticipated.</p>
<p>“Pre-election, the market would have been close to equilibrium around October or November,” Albrecht noted. “My bet was March 2025. The election just about guarantees it will be no later than March, and we’ll be rocking and rolling from then.”</p>
<h3>Impact of the Presidential Election</h3>
<p>The recent presidential election added a layer of uncertainty to the supply chain. With Donald Trump re-elected, the potential for new tariffs has prompted shippers to pull freight forward to mitigate financial risks. This strategic move could lead to an increase in freight activity in the short term, though the long-term effects depend on consumer demand.</p>
<p>“We’re seeing a lot of commentary about freight pull forward due to tariff uncertainties,” Albrecht explained. “In the short to intermediate term, there will be more freight activity, whether the recession is over today or early 2025. It’s in the process of dying if it hasn’t already died.”</p>
<h3>Balancing Opportunities and Risks</h3>
<p>Albrecht cautions that while the market is nearing equilibrium, the full recovery will take additional time. He likened the shift to flipping a switch, with equilibrium serving as a precursor to robust growth. “That flip usually occurs 4-6 months after equilibrium has been attained,” he said.</p>
<p>Shippers managing excess stock amid mediocre consumer demand face critical decisions. Should they continue pulling forward freight to meet projected demand, or could this lead to overstock and potential financial write-downs?</p>
<h3>Tariffs: The Carrot and Stick Approach</h3>
<p>In discussing Trump’s approach to tariffs, Albrecht highlighted the duality of his strategy. “The stick is the threat of tariffs, but the carrot is the potential for a lower corporate tax rate,” he said, referring to Trump’s proposed reduction from 21% to 15%. This dynamic could create opportunities for businesses while pressuring them to align with trade policies.</p>
<h3>Looking Ahead to 2025</h3>
<p>Albrecht remains optimistic about freight creation in the coming year, especially with faster economic growth on the horizon. However, he warns of potential pitfalls: “If underlying demand remains mediocre, then after the pull forward there could be another freight hangover.”</p>
<p>The freight industry is poised for significant changes in 2025. With recovery on the horizon, businesses must navigate market uncertainties while capitalizing on opportunities for growth.</p>
<p>Check out the full article from our friends at FreightWaves. <a href="https://www.freightwaves.com/news/the-end-of-the-freight-recession-and-impacts-for-2025" target="_new" rel="noopener">Click here to read more.</a></p>
<p>&nbsp;</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/is-this-the-end-of-the-freight-recession/">Is This The End of The Freight Recession?</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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		<title>Cargo Insurance Explained: Why It&#8217;s Essential for Motor Carriers</title>
		<link>https://reliancepartners.com/freightwaves/cargo-insurance-explained-why-its-essential-for-motor-carriers/</link>
		
		<dc:creator><![CDATA[Audra Glass]]></dc:creator>
		<pubDate>Wed, 06 Nov 2024 15:42:25 +0000</pubDate>
				<category><![CDATA[FreightWaves]]></category>
		<guid isPermaLink="false">https://reliancepartners.com/?p=4501</guid>

					<description><![CDATA[<p>Cargo insurance is one of the most critical components of a motor carrier’s operating budget. With rising costs in today’s trucking market, it’s essential to understand what cargo insurance does and why it’s indispensable. At Reliance Partners, we’re committed to equipping carriers with the knowledge and tools they need to navigate this challenging landscape. What Is Cargo Insurance and Why Is It Important? Cargo insurance [&#8230;]</p>
<p>The post <a href="https://reliancepartners.com/freightwaves/cargo-insurance-explained-why-its-essential-for-motor-carriers/">Cargo Insurance Explained: Why It&#8217;s Essential for Motor Carriers</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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										<content:encoded><![CDATA[<p>Cargo insurance is one of the most critical components of a motor carrier’s operating budget. With rising costs in today’s trucking market, it’s essential to understand what cargo insurance does and why it’s indispensable. At Reliance Partners, we’re committed to equipping carriers with the knowledge and tools they need to navigate this challenging landscape.</p>
<h4>What Is Cargo Insurance and Why Is It Important?</h4>
<p>Cargo insurance protects goods or the property of others while they are being transported. Andrew Haun, our SVP of Sales and Strategic Accounts, explains:</p>
<blockquote><p>&#8220;At its most basic form, cargo insurance protects goods or the property of others while being transported. Carriers need insurance because while the cargo is under their care, it’s their responsibility.&#8221;</p></blockquote>
<p>Consider this: a 10-unit trucking company could be responsible for $1 million worth of property at any given time. That level of risk underscores the importance of having the right coverage in place.</p>
<h4>Coverage and Compliance</h4>
<p>While liability insurance is federally mandated with a minimum of $750,000, cargo insurance operates under different guidelines. Certain states have their own requirements, and specialized cargo (like perishable goods, hazardous materials, or high-value items) often requires additional endorsements and equipment.</p>
<h4>Tailored Policies for Specific Needs</h4>
<p>Not all cargo insurance is created equal. Reliance Partners emphasizes tailoring policies to meet individual carrier needs. For instance, a carrier hauling dry van cargo may have very different requirements compared to one handling oversize loads or hazardous materials. Our expertise ensures that every policy addresses unique exposures and risks, avoiding costly gaps in coverage.</p>
<h4>Claims and Relationships</h4>
<p>Speed and efficiency in claim resolution are vital. As Haun notes:</p>
<blockquote><p>&#8220;The number one thing is speed of claim adjustment. Making the broker whole so that the shipper/receiver is whole as soon as possible is crucial to maintaining good relationships. Coverage should be evaluated not just by price but by the ability to protect your business.&#8221;</p></blockquote>
<p>One large claim can cripple a small or medium-sized carrier, especially if the carrier is not adequately insured.</p>
<h4>Rising Challenges: Cargo Theft and Natural Disasters</h4>
<p>Cargo theft continues to drive insurance rate increases, with some insurers even excluding theft from standard policies. Reliance Partners helps carriers navigate these exclusions by recommending tailored solutions to reinstate theft coverage where necessary.</p>
<p>When it comes to natural disasters, carriers benefit from the protections of the Carmack Amendment, which limits liability for certain events like acts of God or public enemies. However, careful policy planning is still essential to ensure comprehensive coverage.</p>
<h4>Why Choose Reliance Partners?</h4>
<p>At Reliance Partners, we specialize in helping carriers select the right cargo insurance policies to safeguard their operations and ensure peace of mind. Whether you’re navigating theft exclusions, tailoring specialized coverage, or managing claims efficiently, our team is here to support you every step of the way.</p>
<p><a href="https://www.freightwaves.com/news/what-is-cargo-insurance-and-why-does-it-matter" target="_new" rel="noopener">Check out the full article on FreightWaves here.</a></p>
<p>The post <a href="https://reliancepartners.com/freightwaves/cargo-insurance-explained-why-its-essential-for-motor-carriers/">Cargo Insurance Explained: Why It&#8217;s Essential for Motor Carriers</a> appeared first on <a href="https://reliancepartners.com">Commercial Transportation &amp; Trucking Insurance - Reliance Partners</a>.</p>
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