ABOUT TIA BOND
TIA has partnered with Avalon Risk Management, an industry-leading insurance broker, to develop a premium bond program that holds true to TIA's values as a leader and advocate for third-party logistics (3PL) companies and freight brokerages doing business across North America.
Like TIA itself, the TIA Bond program is highly regarded and well respected throughout the transportation industry. Shippers and carriers know that when dealing with TIA Bondholders, our underwriters recognize legitimate claims with the understanding of what should (and should not) be paid as a claim against a broker’s bond.
The TIA Bond Program satisfies the FMCSA (MAP-21) requirements for property broker and freight forward authorities with a $75,000 bond that’s available for all, while the $100,000 and $250,000 limits are available exclusively for TIA Members.
To determine your Annual Premium, our underwriters will look at the following information:
- Financial income statement and balance sheet on accrual basis (not older than six months). If you are a new broker and do not yet have a financial statement, we can typically accept financials for a related company (i.e., parent/sister company) or the personal tax returns/financial history of a corporate officer.
- Your experience: if anyone at the company has any previous property broker experience (please provide a brief explanation).
- Company TransCredit score if available.
- Insurance information (COI) if you hold E&O, Contingent Cargo, Auto or General Liability. This is not a requirement but can help lessen the risk and premium if approved.
- Your company as a whole.
Please be sure that you have all the necessary items ready to upload with the online submission of your application, they will go directly to the underwriters, so it is completely confidential.
Applying does not guarantee approval and all approved bond applications will be asked to complete an Indemnity and a notarized Power of Attorney for our records before filing with FMCSA.
Indemnity: This document is not required for an initial Underwriter’s review. However, it can help expedite the review process and is required before filing a bond with the FMCSA. An additional Indemnitor may be requested to sign if other or additional supporting financials are requested and presented for review. Download Indemnity Form.
Power of Attorney (POA): This document allows Avalon Risk Management to file an approved Bond with the FMCSA on your behalf as a licensed agent. The POA is not required for an initial underwriter’s review. However, it can help expedite the review process and must be notarized. Download POA Form.
Below, please find a range of frequently asked questions about the TIA Bond program. If you still have questions or need any additional information after reviewing the FAQs, please contact Wendy Emerson, TIA Services Manager, at firstname.lastname@example.org.