How you can make every dollar count in a high revenue, lower profit margin industry Great West Casualty Company published an excellent article titled, “The Financial Impact of Losses”, that examines how trucking insurance claims affect your bottom line. Out-of-pocket repairs and paying your insurance deductibles can quickly erode profitability, so there is a strong economic argument for investment in safety. Many…
ATRI Releases 2018 Update to Studies which Predict Crash Involvement Many of our trucking clients get upset when certain drivers are rejected by the insurance company due to MVR issues. With the chronic driver shortage, it’s understandable that fleet owners and managers need to get drivers to keep their trucks moving. However, there is a statistical basis, including analysis to…
Transportation companies need to protect themselves against cyber threats. Most transportation company owners and managers understand the critical risks of their business—truck crashes and injured drivers being the primary source of losses. However, truckers are increasingly vulnerable to cyber criminals who want to steal your sensitive driver data, disrupt your computer systems, or access your bank accounts. With these types…
The DataQ System presents fleet owners the opportunity to combat CSA violations and increased insurance costs by removing incorrect violations and certain crashes. The Compliance Safety Accountability (CSA) system, now 10 years old, has not performed well, and the FMCSA is gearing up to overhaul the system. The CSA system was designed to decrease crashes involving heavy trucks and buses, but…
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…
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…
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…
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….
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…
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…