Helping to Manage Risk and Resolve Claims
At Tucker Company Worldwide, we take insurance and claim resolution very seriously. Tucker’s Risk Management department reports directly to our Vice President Operations. Risk Management ensures that our carrier files are current, complete and the data is nearly “real time.” Among the numerous mandatory and critical components contained in these files is a physical copy of each carrier’s insurance certificate. In addition to our internal verification of evidence of insurance, we hire a third party firm to further authenticate this information.
As a service firm, naturally many of our customers request our assistance in resolving claims. In that case, we encourage customer claims to be filed through our office where we can ensure all pertinent information is forwarded to the contracted carrier. Otherwise, we still wish to be copied in on claims filed directly through the carrier’s office. Either way, we put an internal timer on the claim. Oftentimes due to our ongoing relationship with the carrier we may have better leverage with the carrier.
Carrier Insurance Policies
The law – statutory and common – clearly states that the hauling carrier is primarily liable for cargo loss and damage. The carrier in possession of the goods is exactly who you want to be responsible.
Since Tucker owns no trucks, we monitor operating authority, D.O.T. Safety Ratings and the existence of carrier insurance.
Every Tucker contracted carrier is required to furnish us with an updated Primary Cargo Loss & Damage certificate naming Tucker Company Worldwide (and our customers) as the insured. Our computer system tracks these policies and their expiration dates. If a carrier’s insurance policy expires, our computer system will not allow us to assign that carrier to a shipment.
Freight Value
Tucker arranges an enormous variety of freight for our customers. Some freight, such as pharmaceuticals, rare metals, and machinery, can be extremely expensive to insure. If the stated value of the freight we are hauling exceeds the carrier’s insurance coverage per load, our computer system forces a dispatcher review. Shippers should always state the value of the freight, and be sure that their freight quote and receive acknowledgement that Tucker knows the value of the freight prior to tendering the shipment to a carrier. Freight value may be an important determining factor in carrier selection.
There are times customers will request us to move the freight at a released value, since it is covered by their own policy. We may then use a carrier with less coverage, but only then.
Tucker’s Insurance Policies
Tucker Company Worldwide maintains Commercial General Liability Insurance, Auto Liability, Worker’s Compensation as required by law, Umbrella/Excess Insurance, and as a backup to the hauling carrier’s insurance, we carry a “Contingency Cargo Loss & Damage” policy for $100,000 per occurrence. If you are a customer, are a carrier with a contract with Tucker or a potential customer, please contact Tucker for a Certificate of our Insurance or our legally required surety bond.
Shipper’s Interest Insurance
Tucker has the ability to supply customers with “shipper’s interest” insurance on cargo only. This policy quickly pays the shipper for valid claims, then subrogates against the carrier’s insurance. Shipper’s interest insurance eliminates the need for shippers to file against carriers. Shipper’s interest insurance is treated as a surcharge on the freight bill from Tucker. Ask a Tucker representative for more information. |
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