Freight Waves, January 20, 2020 The views expressed here are solely those of the authors and do not necessarily represent the views of FreightWaves or its affiliates. This is part two of a two-part series of articles focused on the current trucking insurance crisis. The first article, It’s time for less
Logistics Managment Insurance rates for trucking fleets are soaring, sending trucking executives scrambling for coverage even for some of the safest fleets in the land. The reason, according to top trucking executives and transportation attorneys, is the rise in so-called “nuclear settlements” either awarded by a jury or negotiated by
FreightWaves, January 13, 2020 By Seth Holm Nuclear verdicts have been a consistently increasing theme in trucking over the past several years and the heat and pressure on carriers from rising insurance premiums appears to have no end in sight. This is despite the fact that the number of deaths
wsj.com Jennifer Smith Soaring insurance costs are taking a toll on the trucking business, adding a financial drag for carriers already contending with weakening freight demand. Underwriters have been ratcheting up the cost of liability coverage to recoup losses as“nuclear” accident payoutsof $10 million or more increase, insurance brokers say.
Wall Street Journal, January 8, 2020 By Sara Randazzo One day in 2011, Dave Pebley and his wife were in their motor home on the side of the highway with a flat tire when a big rig slammed into them. The jolt sent Mr. Pebley to the hospital with injuries
KFOX14, January 7, 2020 By Mills Hayes EL PASO, Texas (KFOX14) — In the wake of unrest in the Middle East, local trucking companies are keeping an eye on the price of fuel. But some companies say it’s actually the price of insurance that’s become a make-or-break issue. “These lawyers
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