Keeping Your Clients and Cargo Safe With Insurance

broker liability insurance

Freight brokers form a crucial part of the supply chain. Without them, companies would find it harder to secure the kind of transportation their cargo needs. Likewise, without a broker, transportation companies might make fewer trips than they could. That is why brokers must find the right kind broker liability insurance in order to keep their company, and thereby their clients, safe and sound.

Why Liability Insurance?

Liability insurance is one of the most important insurance types for any business, according to ATM Insurance Services. Any business, whether big or small, will likely see the kinds of setbacks for which liability insurance would be a financial lifesaver. This coverage assists you when certain incidents happen during your business’s operation that cause financial or physical damages.

Situational Examples

Any experienced broker will tell you that many different situations can lead a company to use its liability coverage. For example, cargo may be damaged when a carrier makes a rough right turn. A broker can also be held liable for this loss of cargo.

Another situation that could occur is wrongful death. If a broker does not enforce safety rules or contract with companies that adhere to safety rules, then he or she may also be held liable.

Broker liability insurance doesn’t have to be as confusing as it may seem. Contact a professional provider to learn how this insurance can benefit you.