Insurance Market Still Tough as Jury Awards Keep Rising
Trucking companies continue to struggle with a tight, expensive insurance market — paying more for vehicle liability coverage or making due with less of it — while the underwriters that remain in trucking face narrowing or vanishing profits, suggesting the years-old problem will not be leaving anytime soon.
June 12, 2017High-Profile Accidents Prompt Insurers to Cut Truck Coverage
Costly, high-profile accident losses are transforming the trucking insurance market, potentially raising costs and tightening pressure on fleets to improve safety and reduce risk, industry experts said.
March 21, 2016Scamming Cargo Insurance Broker Behind Bars
The FBI said Aug. 25 the former operator of Appeal Insurance Agency, based in Norcross, Georgia, has been sentenced to four years in federal prison for insurance fraud.
August 27, 2015House Rejects Insurance-Requirement Proposal
Lawmakers rejected an amendment targeting insurance requirements during the House’s consideration of the fiscal 2016 transportation funding bill June 4.
June 5, 2015Truckers Criticize Potential Increase in Minimum Insurance Requirements
The Federal Motor Carrier Safety Administration received more than 2,000 comments on its advanced notice of proposed rulemaking to increase mandatory insurance minimums, many of them questioning whether an adjustment was needed.
March 9, 2015FMCSA to Seek Input on Increasing Minimum Insurance Levels
The Federal Motor Carrier Safety Administration on Nov. 28 published an advance notice of proposed rulemaking on increasing the minimum insurance levels for carriers and brokers.
November 29, 2014EBE Technologies Creates Owner-Operator Insurance Enrollment Software
EBE Technologies said it has created an insurance-enrollment program for carriers hiring owner operators and independent drivers.
June 30, 2014Schumer Calls for Raising Insurance Requirements for Truck Companies
Sen. Charles Schumer (D-N.Y.) said on June 16 he would push to raise the minimum insurance liability that truck companies are required to hold when the Senate considers a fiscal 2015 transportation funding bill as early as June 17.
June 16, 2014Fleets Oppose Obama Administration Plan to Eliminate FMCSA Self-Insurance Option
Some of the nation’s largest trucking companies are joining forces to oppose the Obama administration’s plan to eliminate a self-insurance option for motor carriers.
June 16, 2014FMCSA to Raise Minimum Levels for Carriers’ Required Insurance
The Federal Motor Carrier Safety Administration said it plans to raise the required $750,000 insurance minimum for interstate motor carriers because the amount is not adequate to cover the cost of some serious crashes.
April 28, 2014