The Blog
Financial & Insurance Insights
Washington – June 6, 2024: The U.S. Supreme Court referenced an amicus brief by Crowell & Moring in its decision today, determining that Truck Insurance Exchange qualifies as a ‘party in interest’ allowed to participate in the Chapter 11 bankruptcy proceedings of two manufacturing firms confronting
Concerns in Canada’s Commercial Trucking Sector The Insurance Bureau of Canada has published an extensive report highlighting serious shortcomings in the country’s commercial trucking industry. Key Findings of the Report Among the critical discoveries are prevalent issues related to weak enforcement
On April 22, the Nevada Senate voted narrowly to approve a controversial bill that will soon double the minimum liability insurance requirement for truckers in the state. Currently, Nevada law mandates a minimum liability insurance coverage of $750,000 for truck drivers. The newly passed bill, with
Launching a trucking business requires significant funding, whether you’re an owner-operator or a fleet manager. The costs continue to accumulate even after your fleet starts transporting goods. Expenses such as fuel, tires, maintenance, insurance, and more can reduce your profit margins. FinditPart
Landstar System’s Challenging First Quarter Landstar System faced a difficult first quarter primarily due to several pre-announced issues. Key factors included adverse claims development, rising accident severity, instances of stolen cargo, and fraud detected at a satellite office. Earnings Overview
Please sign up for this recorded ATA webinar. Webinar Overview: Gain CPE credits and explore the use of telematics as a risk management resource in this NAFC webinar. Recently, the amount of telematics data from fleet vehicles has dramatically increased—there’s now 25 times more data available from
Trucking Company Owners Charged with Insurance Fraud Hardip Singh, 44, and Amandeep Kaur, 36, the owners of a trucking company, were charged this week with several counts of insurance fraud. They are accused of misclassifying employees as independent contractors to underreport payroll by over $1.4 m
In the world of commercial trucking, managing profit margins is crucial due to fluctuating fuel prices, increasing tire costs, and the immediate impact of unexpected repairs on cash flow. Insurance premiums can also be unpredictable. However, underwriters utilize specific variables to determine rate
Navigating Commercial Truck Insurance Renewals: Strategies for Savings If you’ve recently reviewed your commercial truck insurance renewal and felt uneasy, you’re in good company. Reports from late 2023 to early 2024 reveal that many single-truck operations are paying between $11,000 and $16,000 a y
