Trucking Insurance Market Facing Challenges from New Ventures, Driver Shortage

According to an article in MyNewMarkets, powered by the Insurance Journal, “The transportation industry is considered a barometer of the U.S. economy. If freight is trending up, so too is the U.S. economy. But capacity constraints for trucking – including a shortage of qualified drivers, low truck supply, and the rising costs of doing business – are squeezing trucking firms.”

This is especially true for small to mid-size fleets. Let’s talk about what we do about it from here.

Read the full article at mynewmarkets.com

Our Observations

“How are you managing growth opportunities at your company? We can assist in your growth so it doesn’t increase your insurance cost. Too much growth is scary for transportation underwriters, and they stay away from providing options.”

– DeAnna Buck, Captive Power Broker

“Truck insurance the last few years has been tough, starting with Physical Damage, now Primary and Excess Auto Liability, and Property on the horizon. Do you understand what is driving this and how to position yourself to outperform your peers?”

– Maron Impagliazzo, Transportation Power Broker