Marsh offers specialty freight broker auto coverage

Marsh on Wednesday announced the launch of an auto liability insurance facility for U.S. freight brokers.

Brokersafe offers $5 million in primary limits from U.S. insurers and $5 million in excess limits from London market insurers.

Marsh said it teamed with sister company Oliver Wyman to develop a technological tool to assess freight brokers’ contingent auto liability exposures.

“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,” Marsh said.