TAPPING INTO GOOD NEWS ON TRADE

Approaching the mid-way mark of calendar year 2022, the transportation industry – like most sectors of the economy – is contending with rising fuel costs,  inflationary pressures and concerns over global events and conflicts. Yet amidst all the concerns, there is good news in areas such as the $4B Customs Broker Market. It is projected to grow in the next five years at a Compounded Annual Growth Rate of more than 3.5%. Last month’s Globe Newswire report on Customs Broker Market trends is worth the read for Freight Brokers, Forwarders, Motor Carriers and other logistics leaders.

EYEING NEW MARKETS

The team at PFA Transportation Insurance & Surety Services is all about giving you what you need, when you need it. That includes reminding you to keep your eye on new markets and new opportunities in 2022. Having the right insurance in place is not just about protection – it’s about helping you to build your business as well. If you’re handling household goods, we can make sure that you have the right solutions in place. Those solutions include a BMC-34 as proof of cargo insurance for household goods Motor Carriers and a BMC-83 for household goods Freight Brokers and Forwarders. We’ll make sure that you’re compliant with the FMCSA’s minimum limits of $5,000 in cargo insurance per vehicle and $10,000 per occurrence.

THE IMPORTANCE OF INDUSTRY COMMUNICATIONS AND KEEPING YOUR BUSINESS UP-TO-DATE

Tapping into industry communications is critical. We encourage you to take a few minutes to check your Carrier Details Page on the FMCSA website to make sure that your information is correct. If you have any transportation insurance policies, check that your policies have not lapsed. Let us know if we can help. We’d love to hear from you. And don’t forget to follow us on social @PFAprotects. 

PERSISTENCE AND PROBLEM-SOLVING IN THE FACE OF SUPPLY CHAIN ISSUES

We all know that our industry – and by extension our economy – is wrestling with a tsunami of supply chain challenges as we all strive to recover from the COVID-19 pandemic. As Transport Topics reported last month, supply chain issues have put considerable pressure on third-party logistics companies of all stripes, from freight brokers and freight forwarders to warehousing and e-commerce fulfillment providers. Yet these issues and the resultant freight market volatility have actually led to a more collaborative business environment. Long-term partnerships are emerging to help all parties operate with less friction.  It’s the kind of teamwork that makes transportation the durable sector it is – and a real driver of our economy.  

WHAT IS AN INSURANCE UMBRELLA? 

Are you finding that your Shippers are expecting more from you? PFA can help you expand your business horizons by providing you with an Insurance Umbrella. Literally.