With the bombshell settlements that have been coming down on the trucking companies, everyone seems to wonder who foots the bill after the insurance limits are maxed. Ultimately the insured is responsible and could potentially have their fleet seized and sold to pay for the additional damages. According to a post with CCJ, there is a post-trial punishment in Texas…
After a brutal two and a half years for truckers, there are signs that the industry is starting to rebound. According to a recent Fox Business article, freight capacity has dropped sufficiently to potentially lift freight rates. With a record number of trucking companies shutting down last year, it will be up to those who are left standing to keep…
With the technology available today, onboard cameras can not only be a useful training tool with live telematics but a way to defend companies and their drivers in court. With companies like SureCam and Lytx providing camera systems geared for the trucking industry, it can be the deciding factor of being able to settle claims or provide a valuable defense in court….
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…
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…
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…
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…