For new trucking ventures, honesty is the best insurance policy
So you’ve just established a trucking company and are eager to score your first load. You’ve bought a truck and obtained CDL, MC and USDOT numbers. It’s time to start hiring drivers, right? Almost. But don’t forget to hit the road without proper insurance. The rules of the road apply to all commercial drivers; not a single carrier can outrun the consequences that follow an […]
Protect against employment-related lawsuits now
In recent years, lawsuits against motor carriers have not only increased in frequency but also in bite. This should come as no surprise as headlines blaring multi-million dollar settlements have become newsflashes almost weekly. Research by the American Transportation Research Institute (ATRI) recently shed light on lawsuits resulting from “nuclear verdicts.” It reported that from 2012 to 2019, there were 265 cases with verdicts over $1 […]
Is the towing sector too risky to insure?
Whether it’s a couple of loose wheel bearings, a blown engine, or worse, a serious accident, truckers often feel helpless when their big rig forces them out of the fast lane and onto the side of the road. Thankfully, drivers aren’t stranded for long as fleets of tow truck operators stand by to assist day and night. Many jurisdictions consider tow trucks to be emergency […]
Prioritize the health and well-being of your drivers
Since March, the COVID-19 pandemic has forced many companies to operate remotely. The sudden change in work-life balance has been challenging but has also provided peace of mind for concerned workforces. In addition to avoiding rush hour traffic and the 9-5 grind, working remotely has become an attractive alternative for those looking to spare themselves from infection. However, not everyone is afforded this luxury. Truck […]
How a $1.25 million insurance liability hike may affect owner-operators
Proposed rate increase in Congress would be “huge financial obstacle” for small-fleet truckers, says insurance expert A push by lawmakers to raise truck liability insurance for the first time in 40 years has advanced further than ever in Congress and the resulting rate increases would hit small trucking companies the hardest, according to an insurance expert. The provision included in the Moving Forward Act, which the […]
Ensure your independent drivers are covered as well
Debilitating injuries from tractor-trailer wrecks are sadly commonplace for motor carriers nationwide. Despite the best efforts to improve driver safety through rigorous training, the adoption of improved regulations and the implementation of new technologies, accidents still abound. To make matters worse, payouts for “nuclear verdicts” and other high-dollar lawsuits stemming from commercial truck-related accidents have sharply risen in recent years. New research by the American Transportation Research […]
Hurricane season heats up – responding to a big one
Believe it or not, hurricane season is well underway, which means it’s time to keep a close eye on the weather. The Atlantic hurricane season started in June and continues through the end of November; this roughly six-month timeframe presents many opportunities for a storm to wreak havoc on economies and entire infrastructures of coastal communities large and small. Motor carriers and independent drivers operating […]
Ensuring a non-owned trailer becomes a non-issue
A truckload of goods will often exchange hands multiple times between its origin and destination. In fact, it’s pretty common for a trailer to be hauled by one driver between points A and B only to be handed off to another to continue the journey to point C and so on. For instance, a truckload originating in Jacksonville bound for Los Angeles may find itself […]
To keep or not to keep: What to consider when engine problems arise
Truckers often develop a sentimental attachment to their vehicles. Through long night hauls and truck stop naps, rush hour traffic and lonely stretches of road, a driver’s attachment to a truck can be compared to a cowboy’s love for his steed. That is why it can be extremely difficult for a driver to part ways with a years-old truck with engine problems. But truck owners […]
Analyzing the response to COVID-19 and the importance of contingency planning
Entering 2020, the possibility of a pandemic seemed unfathomable. If companies thought about such a crisis at all, it was a “what-if” scenario. But “what-if” quickly became “what now?” There’s no shame in a company admitting it was blindsided by COVID-19; in fact, most probably found themselves unprepared. However, as the pandemic approaches the six-month mark, trucking companies and logistics providers should reflect on their […]
The identity crisis of a non-rated motor carrier
Motor carrier safety ratings are a big deal, and they should be. Safety has become the industry’s top concern as compensatory payments and increased insurance premiums stemming from accidents have increased annually. With that being said, it’s understandable for a shipper to preferably contract with the highest-rated carriers. Safety ratings, however, don’t often paint an accurate picture of the current performance of a company. Worse, […]
In the market for a used truck or trailer?
Those in the market to buy their own truck or trailer often face a binary choice – new or used. It’s a question as old as the highways itself and one that permeates the minds of forward-thinking truckers. Purchasing a truck fresh off the assembly line has its perks but can be expensive. On the other hand, used trucks lack certain elements of performance and […]
Albrecht joins Reliance Partners as CFO and CRO
Reliance Partners, the Chattanooga-based insurance agency serving the commercial transportation and trucking industries, announced Monday that Thom Albrecht has joined the company as chief financial officer and chief revenue officer. Prior to joining Reliance Partners, Albrecht was a transportation equities analyst and investment banker for nearly 30 years at several banks, including BB&T and Stephens. In October 2017, he joined Celadon Group to help Paul […]
Prioritize mitigating credit risk, especially during economic uncertainty
Freight brokers and commercial fleets process hundreds if not thousands of shipments daily. In an industry characterized by a huge amount of transactions, risk must consistently be weighed against reward. While most transportation companies diligently assess the profitability of each load before inking the deal, even the most thorough risk management practices cannot mitigate each and every risk. Many companies fall victim to the ever-present […]
Reliance Partners Named on 2020 FreightTech 100 List.
FreightWaves, the industry-leading provider of 24/7 news, data and analytics for the global freight and logistics markets, announced Reliance Partners as one of the winners of the 2020 FreightTech 100 Awards.
Reliance Partners, Proud Sponsor of the FreightTech Innovation Challenge
Chattanooga, Tenn., March 28, 2019 Reliance Partners is proud to a be an esteemed sponsor of the FreightTech Innovation Challenge, along with FreightWaves, Co.Lab and US Xpress. It is set to be a driving force of youth and innovation in the logistics industry, attracting young and diverse talent from the nation’s top schools to innovate on some of the most challenging industry issues. The FreightTech […]
