Insurance Rates Skyrocket

Trucking companies paid an average of 32% more for insurance in 2001 than the year before and are likely to pay even higher premiums in the future, according to an American Trucking Associations survey of 1,000 carriers.

This trend is not expected to get better anytime soon and has only gotten worse since the Sept. 11 terrorist attacks,” according to an executive summary of the report, which was released Jan. 11.

While the report doesn’t address why insurance rates have risen so sharply, it provides evidence that premiums for both primary and umbrella coverage “are escalating substantially.”

For the full story, see the Jan. 14 print edition of Transport Topics. Subscribe today.

(Ellen Errico - TT) Source: American Trucking Associations

(Click here for the full press release from ATA.)

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