In watching submissions,I am seeing several contracts that are requiring better insurance coverage- and therefore as a result changing the current transportation insurance environment.
Case in point are Federal Express and Microsoft.
Federal express is requiring $5 million commercial auto liability out of their contract haulers to haul on their behalf. Likewise they are requiring a $500,000 limit on motor truck cargo and the deletion of the employee dishonesty exclusion.
Microsoft is now requiring a $1 million crime insurance policy.
While our firm has the ability to accomodate these type of requests, the ultimate price is borne by the trucker and they must decide if the revenue and the profitability from that revenue is worth it.
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