Reliance Partners

Navigating market uncertainty in 2024

Freight is cyclical at its core. There are good years and bad years and market corrections. Sometimes market corrections last a lot longer than they should, which is what the freight market is experiencing right now.

On this episode of WHAT THE TRUCK?!?, Reliance Partners Chief Revenue Officer Thom Albrecht joins host Dooner to break down the future of freight markets and when they think the market will finish its correction and return to equilibrium.

Albrecht says: “Since the Fourth of July...

https://www.freightwaves.com/news/navigating-market-uncertainty-in-2024

Borderlands Mexico: Industry heavyweights drill down on trade at Laredo summit

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Laredo summit highlights critical trade issues around security, transportation; BSH Home Appliances launches $240M factory in Monterrey; $132M inland port planned for Celaya, Mexico; and Green Worldwide Shipping opens branch in South Texas.

Laredo summit highlights critical trade issues around security, transportation

LAREDO, Texas — Cross-border trade between Mexico...

https://www.freightwaves.com/news/borderlands-mexico-industry-heavyweights-drill-down-on-trade-at-laredo-summit

Driver hiring standards key to keeping down insurance costs

In tight freight markets, it can be challenging for motor carriers to maintain high safety standards while ensuring their companies are staffed appropriately. Trucking companies must carefully balance the need to fill vacant positions with hiring qualified, responsible drivers. Those hiring decisions can affect a carrier’s insurance rates. 

Currently the only requirement the Federal Motor Carrier Safety Administration has for truck drivers is that they must have a CDL Class A license. The most...

https://www.freightwaves.com/news/driver-hiring-standards-key-to-keeping-down-insurance-costs

The power of Group captive insurance plans for trucking companies

The trucking industry faces countless risks and challenges, from accidents and cargo damage to rising insurance premiums. As traditional insurance costs continue to climb, many trucking companies are exploring alternative risk management strategies. One increasingly popular option is group captive insurance, a self-insurance model that can offer greater control, cost savings and customized coverage.

What is a captive insurer? It is an insurance company “that is wholly owned and controlled by its...

https://www.freightwaves.com/news/the-power-of-group-captive-insurance-plans-for-trucking-companies

 A unified approach to improving cross-border operations

The rise of nearshoring has increased cross-border freight volumes between the U.S. and Mexico. In May, for the fifth consecutive month, Mexico was the top U.S. trade partner at $73 billion. In fact, 15 of the past 16 months, Mexico has been No. 1 in trade with the U.S.

But that growth has exposed inefficiencies in cross-border trade. 

On this episode of WHAT THE TRUCK?!?, Mark Vickers, executive vice president and head of international logistics at Reliance Partners, breaks down Reliance...

https://www.freightwaves.com/news/a-unified-approach-to-improving-cross-border-operations

Christmas in July 

Christmas in July isn’t just for the Hallmark Channel anymore. It’s the beginning of the Tennessee Trucking Association’s annual Haulin’ for the Holidays fundraiser. Haulin’ for the Holidays is a statewide initiative by the Tennessee Trucking Foundation and the Young Professionals Council to partner with TTA members and local charities to make holidays brighter for Tennessee children, teens and families. 

Jessie Merritt, Executive Vice President of Sales at Reliance Partners, joins Dooner on...

https://www.freightwaves.com/news/christmas-in-july

Future-proofing insurance with telematics

Insurance rates are among carriers’ biggest expenses, alongside fuel and maintenance. According to recent analysis from MarketScout, in 2023, the transportation industry was the sector with the largest rate increase: 7.26%. The increase across all industry groups hit 4.56% in the year.

On this episode of WHAT THE TRUCK?!?, Reliance Partners’ Jackson Alexander, executive vice president of sales at Reliance Partners, joins Dooner to break down what is causing rising insurance costs and what some...

https://www.freightwaves.com/news/future-proofing-insurance-with-telematics

Borderless insurance coverage for shippers

Live from the Future of Supply Chain in Atlanta Mark Vickers, executive vice president and head of international logistics at Reliance Partners comes on FWNOW to break down the intricacies of cross border insurance and cargo liability in Mexico. 

When it comes to cargo insurance in Mexico, it’s commonly referred to as the “Wild West,” as there isn’t any standardization like there is in the U.S. and Canada. The Federal Motor Carrier Safety Administration in the U.S. has specific requirements...

https://www.freightwaves.com/news/borderless-insurance-coverage-for-shippers

Strong post-accident procedures help keep insurance costs in check

Motor carriers have three major vehicle-based expenses: vehicles and maintenance, fuel and insurance. A carrier cannot run without covering all three. Unfortunately, freight rates haven’t risen at the same rate as costs. Insurance rates have increased by over 50% in the past decade.

According to the American Transportation Research Institute’s Operational Cost of Trucking report, truck insurance premiums in 2022, the last year of published data, have risen 2.3% since 2021. That increase...

https://www.freightwaves.com/news/strong-post-accident-procedures-help-keep-insurance-costs-in-check

CVSA International Roadcheck just around the corner

Every year the Commercial Vehicle Safety Alliance conducts International Roadcheck. This year, it’s scheduled for May 14-16 across Canada and Mexico as well as the U.S. The program typically has one main focus each year in addition to making sure vehicles are roadworthy. But this year, the CVSA has chosen two focus areas, in addition to a normal inspection: tractor protection systems and alcohol and controlled substances.

On this episode of WHAT THE TRUCK?!?, Mark Barlar, director of DOT...

https://www.freightwaves.com/news/cvsa-international-roadcheck-just-around-the-corner

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