How Highway Sees Fraud, Risk and Carrier Vetting
Freight fraud risks and carrier vetting are the focus as Highway Chief Commercial Officer Michael Caney joins FreightWaves Today. He breaks down what brokers, carriers and shippers need to watch right now when onboarding and monitoring capacity. If you work fraud prevention, carrier compliance or network procurement, this conversation gets straight to the operational takeaway […] The post How…
Highway, a carrier-vetting platform, is emphasizing fraud prevention and carrier compliance in its latest conversation. The company's chief commercial officer, Michael Caney, highlighted the importance of onboarding and monitoring capacity for brokers, carriers, and shippers. Highway's fraud-detection product is backed by the company's balance sheet, with a $100,000 guarantee if a broker loses a load using Highway's guarantee standard.
The program covers most of the North American carrier capacity, with 82% of the approximately 175,000 carriers qualifying for the guarantee tier. Caney emphasized that the industry should focus on the majority of carriers rather than the bottom 18% and that the average cargo theft amounts to $250,000, not the $100,000 guarantee payout.
A recent payout was due to a fixed identity-verification bug related to California's non-domiciled limited-term licensing rules. Highway's investigation into a fake ID ring in Kentucky contributed to a major arrest in Armenia, showcasing the platform's role in law enforcement.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
