The morning everyone today we’re going to talk about freight brokers insurance we get a lot of questions in regards to if a freight brokerage needs to have insurance beyond the surety bond of course you know the surety bond is there just in case you fail to pay a carrier they can actually do a claim against your bond however.
A lot of freight brokers they’re very unsure about if they also need insurance and so this morning I’m going to bring to you an article about CH.
Robinson and the CH Robinson case now many of you probably.
Already know of this however if you go to Google and you just type in CH Robinson liability case there are a lot of articles that you can read that pertains to this case and we’re going.
To look at one in particular so I want to say this one is transport topics and their website is ww2 news.com and it basically talks about you know CH Robinson is a brokerage and you know basically they brokered a load.
To a carrier and that particular carrier got into an acident and it was a facility involved and so they also found.
CA drops and liable as well as the trucking company so the trucking company didn’t get.
Off the hook by all parties that were involved we’re actually liable so if you don’t have insurance guys you know this could really affect you in.
Your livelihood and I’m going to go briefly through the topic however again I want you guys to go over to Google and I want you to search CH Robeson liability case there are several articles and so you can read multiple as well it’s just really good information for you and so what happens is and.
This was I believe back in 2009 no 2004 I’m sorry but.
What happens is a lot of the shippers now when you guys are going to call your shippers to fill your book of business a lot of the shippers are actually requiring that you have a certain amount of insurance as well as the carrier’s you know that’s why you have to screen these carriers very well but you know it’s just different scenarios that can happen so we’re going to briefly talk about this article.
And then if you have any comments leave them below please leave your comments below but I would like everybody to read the article so the jury finds.
Freight broker liable for twenty three point eight million fatality award okay alrighty so an Illinois jury has awarded twenty three point eight million in damages against leading freight broker CH Robinson so CH Robeson was liable for twenty three point eight million okay so I mean you should always have insurance I don’t.
Care what type of insurance it is you know if you own a home you should have homeowners insurance anything can happen you know I mean we try to stress the importance of life insurance you know a lot of the.
The truckers out there don’t have a lot of benefits or owner-operators so I don’t care what type of business you have you should always have some type of insurance just in case.
To the left for things you know don’t work out you want to protect you and your your business as much as possible so there are a lot of brokers brokerages out there they don’t have any insurance and you know you’re getting started and you of course you want to keep your expenses low but.