Welcome To The Hard Market – A Trucking Insurance Market Update

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Recently, we warned of a “rough road ahead” in the trucking insurance marketplace. We’re now advising our current and prospective clients that we’re in a hard market for trucking insurance. After several years of poor profits in the commercial auto insurance segment, underwriting standards have tightened considerably, and rates are increasing for fleets of all sizes—sometimes dramatically. For fleets that…

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Reptile Theory and Trucking Insurance Rates

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An Interview with Ted Perryman, Principal (and CDL holder) at Roberts Perryman Law Firm on “reptile theory.” It’s no secret that trucking insurance rates are increasing this year, and many in the transportation industry are questioning why they are facing double-digit insurance rate increases. As cited in our Q3 Trucking Insurance market update, poor profitability in the commercial auto insurance sector…

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Trucking Insurance 2018 Q3 Market Update: Rough Road Ahead

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While the transportation industry enjoys one of the best freight rate environments in history, our Q3 market update finds commercial trucking insurance companies experiencing eroding profitability in the face of higher average liability settlements, skyrocketing physical damage claim costs due to increasing truck values, and a low interest rate environment that limits non-underwriting income. Commercial trucking auto rates have increased…

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A.M. Best article

The Truck Parking Shortage and Insurance Claims – Five Tips to Avoid Costly Lawsuits

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According to a 2015 Federal Highway Administration Study, there are truck parking shortages in 36 states. It’s unknown how the ELD mandate and new personal conveyance rules will affect this shortage, but it’s not expected to improve without greatly increased parking capacity. An unfortunate side effect of this lack of capacity is illegal or questionable truck parking, which can have tragic results….

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Daniel & Henry Company Clients Receive National Safety Awards

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Great West Casualty Insurance Company recently awarded Schilli Corporation and Steven’s Distributors with National Safety Awards. Both of these clients share a commitment to safety for the motoring public and for their drivers. Jan Markinson, Large Fleet Safety Director for Great West Casualty, presented two awards to the Schilli Corporation—Workplace Safety and National Safety—to Ken Humphries, Safety Director, and Dennis…

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New Personal Conveyance Guidance – Insurance and Risk Management Considerations

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With the ELD mandate firmly in place, the FMCSA finally provided guidance on the personal use (“personal conveyance”) of commercial motor vehicles. This has been a murky area for truck drivers for many years. Fleet Owner magazine published an excellent article, “10 Things To Know About Personal Conveyance”, which provides an overview of the FMCSA’s new guidance. However, neither the Fleet…

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Can The International Road Check Lower My Insurance Costs?

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Starting June 5th, the Commercial Vehicle Safety Alliance begins the three-day annual International Road Check. As you’re probably aware, this year the CVSA’s focus will be on hours of service and proper use of electronic logging devices (ELDs). As discussed in two prior blog posts, CSA scores have a significant effect on your insurance pricing. Savvy drivers and fleet owners can use…

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Read Your Shipper and Broker Contracts To Avoid Unnecessary Claims!

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Real Life Claim Examples After the Food Safety Modernization Act And How To Address Issues in Contracts As reported this month in Overdrive Magazine, trucking companies that ship food are facing burdensome contracts and unintended consequences from the Food Modernization and Safety Act (FMSA). While it’s important that your drivers understand FDA regulations if transporting food items, its’ also critical that you review…

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CSA Scores: Part 2 – Which Violations Increase Rates the Most?

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In our previous post, we reviewed the FMCSA’s Compliance, Safety, and Accountability (CSA) system and how your scores can affect your insurance rates. Many transportation companies have designed incentive programs to keep their CSA scores low, and often giving drivers some type of reward for clean level one inspections while being penalized for certain violations. However, in designing an incentive program, it’s important…

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