What is TQL's insurance requirement for a carrier?

TQL's insurance requirement for a carrier mandates coverage that aligns with industry standards for both cargo and liability. The specified amounts of $100,000 for cargo coverage and $1,000,000 for liability coverage reflect a robust framework designed to protect against potential damages or losses during transportation.

This level of insurance is significant because it not only meets but often exceeds the basic requirements imposed by regulatory bodies, thus ensuring that carriers are well-equipped to handle various risks. Adequate liability insurance protects all parties involved in a transportation contract, including shippers and TQL itself, by providing coverage in case of an accident, negligence, or other issues that could lead to financial loss.

Additionally, cargo insurance is crucial as it covers the value of goods being transported, ensuring that if an incident occurs, such as theft or damage, there is sufficient financial backing to compensate the owner's losses. With these amounts, TQL aims to foster trust and security in its operational processes, facilitating smoother transactions and partnerships in the logistics and transportation industry.