BondExchange Lowers Rates on Freight Broker Bonds Economic turbulence coupled with a surge in fraudulent activities has led to fewer insurance companies willing to offer the Freight Broker Bond and higher bond premiums for freight brokers. In response to these challenges, BondExchange is actually lowering rates and expanding capacity for freight brokers through ongoing enhancements …
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A Solution for Hard-to-Place Freight Broker Bonds The third largest provider of Freight Broker Bonds just exited the market, becoming the sixth carrier to cease writing BMC-84 bonds in the past year. The market for Freight Broker Bonds has been decimated by a punishing economic cycle and a surge of criminal fraud, and if …
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How High Fuel Prices Are Affecting Freight Brokers A year ago, the average national price per gallon for diesel fuel was $3.083. Today, that number sits at $5.029, and for small freight brokers, these price hikes are causing major headaches. What does this mean for insurance agents? Well, freight brokers must purchase a surety bond …
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BMC-84 Freight Broker Bond: A Comprehensive Guide This guide provides information for insurance agents to help freight brokers on BMC-84 Freight Broker bonds At a Glance: Average Cost: $925 per year or $93 per month based on the broker’s credit Bond Amount: $75,000 Who Needs It: All individuals and business entities seeking to obtain a …
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