Broker Marsh, a business of Marsh McLennan, the launch of BrokerSafe, an exclusive insurance facility for U.S
. freight broker clients seeking access to more stable and affordable freight broker auto liability coverage.
Freight brokers play a vital role in the supply chain by connecting cargo owners with trucking companies, but their intermediary position exposes them to sig
nificant contingent auto liability risks should a safety incident occur. Rising freight broker auto liability rates, a shrinking
insurance market, and increased nuclear verdicts have made it more difficult and costly for freight brokers to secure adequate coverage.
Created in conjunction with Oliver Wyman, another Marsh McLennan business, BrokerSafe leverages a first-
of-its-kind underwriting technology tool that uses advanced analytics and proprietary algorithms to comprehensively assess a freight broker’s full contingent auto liabilit
y risk exposure. BrokerSafe insurers can offer freight brokers bespoke contingent auto liability coverage aligned t
o their true risk profile rather than traditional underwriting methods like broker-carrier agreements or revenue figures.
Backed by a panel of A-rated U.S. insurers, BrokerSafe offers up to $5 million in primary limits and an addit
ional $5 million in excess capacity available from the London market.
After years of cautious growth, Waymo has recently increased its pace, launching in new cities through partnerships with ride-hailing platforms and fleet operators.
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In Dallas, Waymo will operate through a new multi-year partnership with car rental company Avis Budget Gro
up CAR.O, which will manage fleet operations, including maintenance and depot infrastructure, Waymo said in a blog.
Waymo currently serves more than 250,000 paid trips every week with about 1,500 vehicles in cities such as Phoenix, San Francisco, Los Angeles, and Austin.
This year, Waymo began its service in Austin exclusively on the Uber platform, months before Tesla started a limi
ted robotaxi trial in the city with about a dozen Model Y SUVs and a human safety monitor in the front passenger seat.
Tesla CEO Elon Musk has said the company will rapidly expand its robotaxi services to other U.S. cities and is seeking regulatory approval from California, Nevada, Florida, and Arizona.