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Understanding Carriage and Insurance Paid to (CIP) Carriage and Insurance Paid to (CIP) is an international trade term in which the seller is responsible for covering the freight and insurance expenses associated with moving goods from their facility to a designated location chosen by the buyer. The
Overview of Transportation Insurance Transportation insurance provides protection for the insured’s assets during their movement from one location to another. It is essential for companies to consider various types of insurance when developing their risk management strategies. Types of Insurance to
Staffing Shortages and Insurance Costs Trucking companies are grappling with extensive staffing shortages while simultaneously facing financial hurdles in hiring new candidates due to the increased costs of insuring them. Praise for On-the-Job Training Jamie Mullens, an owner-operator at Keltic Tran
Minimum Insurance Requirements The federal government is tasked with establishing minimum insurance requirements for trucking companies and brokers; however, a shortage of data from insurers is hindering regulators’ ability to determine if current coverage levels should be adjusted. Rising Costs of
Koffie Insurance Secures $11 Million in Series A Funding Brooklyn, NY, July 19, 2022 (GLOBE NEWSWIRE) – Koffie Insurance, an insurtech specializing in financial services for the trucking and transportation industry, has successfully closed an $11 million Series A funding round. This brings the compa
Matthew James Collins, an Ohio resident, transports frozen foods like onion rings and ice cream across the Midwest. On a recent October morning, he was navigating through a snowstorm in Minnesota. Collins pointed out that he used to haul around 22 skids of frozen goods for four corporate clients las
The anticipated future where we would all be traveling in self-driving cars—able to text, read, or even nap while being driven to our destinations—has not materialized as expected. Similarly, hopes for a fully automated trucking industry remain unfulfilled as we await advancements in technology. Des
In the case of Truck Insurance Exchange v. Kaiser Gypsum Company, Inc., the U.S. Supreme Court recently ruled that an insurer responsible for claims against a debtor, and potentially impacted by the debtor’s bankruptcy, qualifies as a “party in interest” with the right to participate in the debtor’s
RLI Corp Teams Up with TruckerCloud RLI Corp’s RLI Transportation division has partnered with TruckerCloud, the premier telematics data platform for commercial auto insurance. This collaboration aims to enhance RLI’s transportation insurance sector, which is recognized for its innovative approach in
