Whether you’re a motor carrier that works with brokers or you’re thinking of spinning off your own freight brokerage business from your fleet operations, you need to understand broker bonds.

What Fleets Should Know About Freight Broker Bonds But what happens if there’s more in carrier claims than $75,000? And what if that surety bond gets cancelled?

Among carriers stiffed by Convoy last Fall, small fleet owner Surinder Gill's claims alone amount to nearly half of the $75K required broker bond. He asks, time for a new bond approach?

Over the past six months, four surety carriers with significant market share have exited the Freight Broker Bond market after experiencing unacceptable loss ratios. The freight industry relies on ...

FMCSA's proposed rules related to brokers' financial responsibility requirements are a "step in the right direction," according to some carriers, but they could go even farther.

If these funds for a broker or freight forwarder drop below $75,000, FMCSA would suspend its operating authority. The funds can be saved in either a surety bond or trust fund, according to the MAP ...

As a result, it has become harder for insurance agents to secure the surety bonds their freight broker customers need to operate their businesses.

CHARLOTTE, N.C., Oct. 17, 2023 /PRNewswire/ -- Jet Insurance Company ("Jet") has developed an innovative bond program to provide consistent and sustainable surety credit to legitimate freight ...