2020 United States Trade Wrap-Up

2020 United States Trade Wrap-Up

As we enter into 2021, it is essential to look back and reflect upon the events that occurred in the international trade industry through the year 2020. 2020 was a year for the books. Along with the COVID-19 pandemic and the trade war, many significant events affected the global economy throughout the year. Let’s review…

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Why is it Difficult to Get Warehouse Coverage?

Why is it Difficult to Get Warehouse Coverage?

Warehouse cargo insurance coverage has become more challenging to secure as more businesses seek this type of cargo insurance in the hardening market. The Hardening Insurance Market Warehouse coverage becomes complex when it comes to securing a policy in a hardening insurance market. A hard market is an upswing in a market cycle, in which…

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What is an Import Penalty?

What is an Import Penalty?

Inaccurate classification of goods, valuation of goods, country of origin, or goods not invoiced or declared can lead to CBP applying an import penalty on an importer. Import penalties are fines and legal action applied to importers by U.S. Customs and Border Protection (CBP) when goods are imported into the United States in violation of…

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What is Warehouse Insurance Coverage?

What is Warehouse Insurance Coverage?

Warehouse Insurance protects cargo during storage. A cargo insurance policy can be extended to cover additional warehouse coverage, including floods, windstorms, and earthquakes. Policies are customized based on the type of goods, mode of transport, and preferred protection. A warehouse’s responsibility is to keep their customer’s goods safe in exchange for a fee. Warehouses offer…

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TRG Celebrates the Holidays 2020 Style

TRG Celebrates the Holidays 2020 Style

TRG celebrated the holidays this year 2020 style with Microsoft Teams and Doordash. Working from home due to COVID-19 called for a unique and much needed end-of-year get together. This holiday season, Trade Risk Guaranty held a virtual holiday party where we participated in several festive activities, including a gingerbread house contest. TRG employees voted…

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What is Defined as a Package?

[Video] What is Defined as a Package? | Carrier Limit of Liability

Federal courts have struggled to provide a clear and specific definition of a package for the purpose of carrier limit of liability. Carriers and their insurers have attempted to limit liability by having the courts treat a container or pallet as a package rather than individual packages in the container or on a pallet as…

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