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Are Truckers in Trouble with Fewer Roads to Insurance Solutions?

Thursday, February 6, 2020

Commercial insurance carriers continue to flee the insurance arena, and jury cases with “nuclear verdicts” pose more trouble to trucking companies across the United States. Industry performance – including those who do not dedicate the time and emphasis to safety protocol – is making it harder for others to bear the double-digit renewal increases, regardless of a spotless loss history.

With these challenges, and a hardening market already arriving to shore, what can be different? What’s possible to change the status quo? To control your destiny, developing better approaches to safety and risk management will make you the insured of choice and gain a competitive advantage in this challenging environment. Your culture is the foundation for making this a success. Safety and risk management are not just a priority, policy or another program. Together, they are core pillars to everything your organization does; it’s a way of operating in everything you do.

Freight Waves shares six specific tactics to elevating these pillars and making your culture the best it can be to take your operations to the next level, in essence, becoming an insured of choice. These methods can start from listening on the job (to equipment, people, etc.), putting safety above productivity, and even investments in technology (i.e., inward and outward-facing cameras). Insurance carriers understand it is impossible to control all outcomes, but they know of customers who put specific care in the safety and risk management of their cultures. They thrive and continue to do the right thing. Are you doing the right things?

Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.