If you’ve ventured into acquiring a Freight Broker Bond within the last six months, you’ve probably encountered elevated rates, more rigorous underwriting prerequisites, and an unsettling apprehension from the surety company, foreseeing that issuing a bond might lead to a complete claim.
Carriers are fleeing, and those opting to stay are fortifying their defenses in an effort to endure the challenges of the toughening market.
So, what does this signify for you? If the broader industry had its say, only the elite tier of applicants would stand a faint chance of securing a BMC-84 bond. This would leave most applicants in a predicament, struggling to attain coverage.
Fortunately, we’ve charted a superior course ahead.
We’ve recently unveiled a collaboration with Jet Insurance Company, granting BondExchange agents exclusive entry to a novel Freight Broker Bond program. This program melds advanced underwriting with the cutting-edge technology the surety industry has ever witnessed, assuring that BondExchange agents possess sustainable, distinctive, and convenient access to this challenging-to-obtain coverage.
