All Posts By

claytond

Trucking Insurance Prices A Drag On The Industry

By | Uncategorized

While the economy chugs along at a brisk pace, the trucking industry continues to face substantial headwinds. A volatile freight rate environment led to a 300% increase in trucking company bankruptcies in 2019, including the sudden closure of Celadon, which made national headlines. Rising costs are a contributing factor, with insurance premiums now being cited in multiple industry journals as…

Read More

Plummeting Used Truck Valuation and Insurance Considerations

By | Uncategorized

In 2018, with peak freight rates, many trucking companies rushed to add to their fleets. Of course, as capacity expanded and rates plummeted in 2019, many of these same trucking companies found themselves needing to decrease the size of their fleet. Coupled with a 300% increase in trucking company bankruptcies last year, this has caused a glut of four to…

Read More

Insurance Costs An Emerging Trend Among Motor Carriers in 2019 ATRI Report

By | Uncategorized

The American Transportation Research Institute (ATRI) recently released its annual “Critical Issues In The Trucking Industry” report. The driver shortage and hours of service remain top critical issues for most motor carriers. This year, the report identified insurance costs as an emerging trend. The report stated: “Since 2013, fleets participating in ATRI’s Operational Costs of Trucking data collection have seen…

Read More

Nuclear Verdicts and the Effects on Trucking Insurance

By | Uncategorized

2019 may go down as the “Year of the Nuclear Verdict” in the trucking industry. According to this article from Freightwaves, a 540-unit hauler is ceasing operations after a $26.6 million judgement against it stemming from a rear-end collision where one of the company’s independent contractor drivers rear-ended and killed the parents of three children. Werner has been hit with…

Read More

Top 10 Road Test Tips

By | Uncategorized

One of the most important responsibilities a motor carrier has is to hire qualified drivers. This critical task, if conducted haphazardly or not performed at all, could have a negative ripple effect across the company and affect productivity, downtime, morale, expenses, and profitability. Due diligence should be given to screening applicants and conducting required background checks, but, arguably, the most…

Read More