December 30, 2020
The end of one year and the start of the next is always a good time to take stock of where you’re at. It’s particularly important coming out of the year that we’ve just been through and in preparing for economic uncertainty that still may be ahead. That’s as true for businesses in any sector – including the rapidly-evolving transportation industry – as it is for people. Perhaps it’s time to elevate your company’s planning for 2021 with a little bit of the old and a little bit of the new when it comes to goal-setting. In the eyes of many, planning has only become more important in recent years. That’s partly because so many industries are changing so quickly and not enough of the companies within certain industries are keeping their eyes on the early adopters and change agents. There’s no better year for your company to pay some […]
December 30, 2020
As we said last year at that this time, failing to plan is planning to fail. Very few businesses can grow – let alone sustain themselves – without being well-organized and well-structured to achieve your priorities in any given year. Strategic and tactical planning have never been as important as they are going into 2021, where having some security in the face of continued uncertainty on several fronts is something to build on for Freight Brokers, Motor Carriers and others in the transportation sector. Being organized is the key to planning to do some new things in 2021. Sometimes, even a small shift can mean new business. You’ve probably been thinking about a few new opportunities over the last few months; now is the time to get serious and make them happen. A prominent question on the minds of many Freight Brokers is a simple one: What can increase business? […]
November 25, 2020
The sheer volume of holiday shipping this year is unprecedented due to people shopping online like never before. The truckers currently navigating America’s roadways are a sure sign that Santa Claus is coming to town. Add freezing rain and snow along with a global pandemic, and you may have yourself a headache, especially if you’re in the transportation business. Holiday and winter seasonal challenges for transportation industry leaders include: Bad weather: Snow, freezing rain, black ice. If you live north of the Mason-Dixon Line, you tend to be old pros when it comes to the ravages of winter. Most trucking companies cross into serious winter weather no matter where they are headquartered. All the safety precautions apply here – including knowing when to stay off the road. Equipping your drivers with the latest apps and weather media channels – including The Weather Channel and Weather Underground – is a smart […]
August 3, 2020
Why Commercial General Liability Coverage? The answer is simple: To satisfy contracts! General Liability Coverage This isn’t just insurance speak, but it’s an opportunity to have a quick reality check. And that reality is that shipping contracts are including General Liability in the insurance requirements with greater frequency. Landlords and affiliated businesses also require this in the agreements that you’ll encounter as your brokerage expands. The PFA Insurance Team can help you address the contractual terms and all those ‘odd’ insurance requirements. Don’t stress when asked about ‘additional insured, waiver of subrogation, primary non-contributory’ because we’ll help you get them added too. Cyber Coverage Requirements One more reality of today’s commerce and industry is that the thieves can’t always be seen. They are digital, electronic, and remote in their tactics. Due to this threat, some contracts now include cyber coverage requirements. The best coverage tends to be found in specialized […]
August 3, 2020
The One Stop Shop at PFA continues to expand with easier ways to obtain quotes and more insurance offerings. Freight Broker Insurance Coverage Whether you are a new Freight Broker in need of insurance coverage to protect your brokerage or a current client needing additional coverage to satisfy new requirements on your expanding operations, you can now access the PFA insurance application on our website. This application helps guide you through the information needed for the special freight broker coverage lines of Contingent Cargo, Contingent Auto Liability, General Liability, and Professional Liability (aka: Errors & Omissions). PFA Truck Insurance We are also pleased to announce that due to overwhelming demand, PFA has expanded into offering truck insurance! We have a program that is favorable to smaller and newer carrier operations and is currently available in seven states (AL, AZ, GA, IL, NC, SC, TX). While we await additional states to […]
June 30, 2020
Expanding your business opportunities is a keystone to business strength and independence. One of the surefire ways to increase your revenues from shippers is Shipper’s Interest. A small investment in Shipper’s Interest and other carefully selected transportation insurance products can help grow your business. Some things to think about as you map out a plan that will take you through the current disruption include: Shipper’s Interest, which can be an effective way to cover high-value cargo, protect key shipper relationships and provide insurance at the time it is needed without facing costs in advance; Contingent Cargo means “peace of mind” and it is frequently required under many shipper agreements; Auto, General, and Umbrella/Excess Liability may also arise in the insurance requirements of certain shippers. Shipper Insurance Requirements When a shipper provides you with their insurance requirements, be aware of three additional coverage requirements. Often called endorsements, these coverage requirements need […]