Let's Talk Logistics

As the news continues to be saturated with images of overflowing containers and clogged ports, the public is getting used to hearing that the world’s supply chains are a hot mess – but the situation this fall has become more alarming than ever. Delayed and missed deliveries have become the reality for many Americans, and prior expectations have slipped, even for next-day delivery junkies. As the world’s consummate consumers, we are becoming surprisingly tolerant of what seems like a long-term state of affairs.

What happens, though, when a shipment is not just delayed, but it never arrives? The last thing a shipper wants to believe is that their freight has gone missing and possibly has been stolen. Unfortunately, it can and does happen.

Thanksgiving and Christmas are two times of the year when cargo theft happens most often. The holidays are a time when people are preoccupied with having time off and are anxious to get home to their families. In other words, they are often off their game, which means letting their guard down and creating a perfect opportunity for freight crooks to do what they do best.

The graphic below is based on CargoNet's past 5 years of data. CargoNet is a unique solutions provider that helps its members collectively share information between law enforcement, victims of theft, and shippers and receivers to recover and prevent stolen freight.

Source: CargoNet

Nobody looks forward to dealing with freight claims, but they are a necessary part of doing business. Even though they can be frustrating and time-consuming, the way you process a claim can be the difference between receiving full compensation or kicking yourself because you made an avoidable, costly mistake. If a consignee (or shipper) does not follow proper procedures in the claim process, there is the possibility that he or she will not receive any reimbursement. 

"I am thinking about outsourcing my claims management. Why should I do that?"

There are many reasons to consider outsoucring your freight claims management. It can improve your cash flow, capture lost revenue, provide timely resolution, and reduce the loss of valuable resources that might otherwise be tied up tracking down and filing claim information. 

Why Do I Need Shipper's Interest Cargo Insurance? 

What is the first question you ask when the unexpected happens and you are facing lost, stolen or damaged freight? For most shippers, it is … “Am I covered?”

You know you need to file a claim, but first comes the headache-inducing, fact gathering chore that is necessary with any accident or loss. You need answers to: Is everyone okay? How much damage is there? Who is responsible? What will insurance cover? Who is at fault? How much will it cost my company in time and lost revenue? What do I do next?

When facing these freight claims issues, the time it takes to deal with unpaid and unresolved problems is costly for your company in more ways than you think. No matter what disaster comes your way, being prepared and knowing how to take care of it quickly will let you get back to your main business of conducting business.

You’ve got the best freight insurance in the world, right? Sure you do—until you have a claim, that is. When compensation is needed, some policies can turn out to be about as much good as a screen door in a submarine. In other words, you're not covered.