According to an article in CRC Group, “Increasing frequency and severity in commercial auto claims are causing the marketplace for excess trucking liability to become even more turbulent. Trucking insurers have faced several years of challenging business conditions, and many are now forced to reduce the limits they offer and increase rates significantly for trucking risks.”
Let’s talk about what we do about it from here.
Read the full article at crcgroup.com
Our Observations
“You can use a captive that specializes in Transportation to provide primary $2 Million limits, so the excess is much cheaper. Captive members continue to drive down costs, even in this tough market.”
– DeAnna Buck, Captive Power Broker
“One of the most common questions I hear is, ‘How much excess should I buy?’ The answer is not simple, and the idea that if you buy more, people will just go after more, is a bogus justification of under insuring.”
– Maron Impagliazzo, Transportation Power Broker
