Insurance & Risk Management, sponsored by Reliance Partners, is a weekly look at how trucking operations of all sizes, including owner-operators, can minimize their exposure to risk and insurance claims. More information on Reliance Partners’ offerings can be found here.
Sponsored by Reliance Partners…There are a lot of reasons why it’s hard for owner-operators to get the best deal possible on their truck insurance. Owner-operators are busy.
Sponsored by Reliance Partners…One of his specific points of focus for improving driving retention has to do with compensation packages. Compensation packages have become more sophisticated in recent years, but there is room for improvement.
On June 7th, the highest odds for a truck being in a collision will occur between 4 pm and 7 pm and between 9 pm and midnight, accounting for 21% and 19% of the day’s accidents, respectively, almost twice what would be expected if accidents occurred at random times.
Sponsored by Reliance Partners…FreightWaves visited the Reliance office in downtown Chattanooga this week to speak with COO and president, Chad Eichelberger and Laura Anne Howell and get a sense of what makes the secret sauce so special.
Everyone sees the market as strong and staying that way, but are there other headwinds in the trucking sector?
Sponsored by Reliance Partners…Depending on the limit and deductible you choose, your trailer interchange coverage should add between $100 and $1500 a year to your overall insurance cost.
Sponsored by Reliance Partners…Regardless of whether the accident was the driver’s fault, documentation helps support the ease and efficiency of the process. The point is, document first, ask questions later.
Sponsored by Reliance Partners…Two very different approaches could give some breathing room to the tightening CDL driver shortage.
Brought to you by Reliance Partners…Begin the process by providing clarity and expectations first on the basics, such as driving, detention, and layover, the nuts-and-bolts of the driving job.
Presented by Reliance Partners…While there are loads of ways to save on insurance costs, some aren’t as realistic as others. We’ve distilled it down to a concentrated Top 5.
Presented by Reliance Partners …The jury is still out as to whether or not ELDs actually make our roads safer, but many say they’re working.
Presented by Reliance Partners …CAB compiles data and translates that into actionable information for insurers and underwriters to make more informed decisions on carriers.
In partnership with Reliance Partners …It isn’t easy, it isn’t quick, but having a safety culture in your company can pay some clear dividends.
Presented by Reliance Partners …Cargo theft doesn’t just happen on the road, it can also happen at the warehouse. To prevent it, leading experts noted some of the approaches that scare away thieves.
Presented by Reliance Partners …As if insurance requirements are not confusing enough for truckers, there is additional insurance policies some truckers or carriers need that others do not. This includes intermodal insurance coverage
When a 3PL is involved in moving goods, there are a number of liability areas where that 3PL could be held responsible, from the actions of the carrier to condition of the goods.
Presented by Reliance Partners …For truly safe trucking companies, chameleon carriers are a problem. But it is one that data is helping solve.
Insurance & Risk Management presented by Reliance Partners … U.S. companies moving freight across the border need additional insurance to cover their Mexican drivers, even if it is only within the border zone
Insurance & Risk Management presented by Reliance Partners … While the number of recorded cargo thefts in 2017 declined to 649, the group said, the threat remains, and according to Scott Cornell with Traveler’s Special Investigations Group (SIG), may be underreported.
It seems so simple, but basic attention to detail can help prevent an unwanted interaction with law enforcement, which can lead to increased insurance premiums.
Trucking companies face high insurance costs, and few are higher than new venture insurance for new carriers. Some steps can be taken to help lower that initial cost, though.
As seemingly simple as the rule sounds – ensure food is safe during transport – it is anything but. The FDA’s food safety regulation, says, Sam Rizzitelli, transportation practice lead for the Americas for Allianz Global Corporate & Specialty, has opened up new concerns from an insurance impact.
Reliance Partners, a leader in transportation and logistics insurance and risk management, announced today that it joined the Blockchain in Transport Alliance (BiTA).
In what will come as little surprise to anyone who has recently renewed their commercial insurance policies, rates are going up. The bad news is that there doesn’t appear to be an immediate end in sight, according to a new report from A.B. Best.
Owner-operators have unique insurance needs, and it matters whether you have your own authority or are leased to a carrier. Either way, it’s important to understand what coverage you need and find policies that fit your budget.
Recently, there were a couple of Facebook posts from owner-operators asking for advice on where to look for new insurance. One poster said their insurance company was dropping them because their “maintenance scores” were too high. What, they asked, did that mean?
The saying goes that there are only two certainties in life: death and taxes. If you’re a commercial vehicle operator, though, you can add another: rising insurance costs.
With millions of commercial vehicles now running electronic logging devices (ELD), concerns have been raised about cyber attacks. That concern is leading to more interest in cyber insurance policies.
While more and more fleets are utilizing thousands of data points to make operational decisions, insurance providers are tapping into those same data points to help create more accurate risk profiles of carriers and their drivers to build improved insurance offerings for those fleets. And at a lower cost in some instances.
A few years ago, cameras in trucks were viewed negatively by nearly everyone. That has started changing as more providers perfected the systems and word started getting out on how a camera could save a fleet from a million-dollar lawsuit, not to mention reducing risky driving behaviors.
Larger fleets sometimes control their insurance costs by self-insuring. Smaller fleets, though, often don’t have the financial resources to self-insure, so more of them are turning to “captive” insurance programs.
Fleets do not have to be stuck paying high insurance premiums as there are a number of choices they can make to lower their risk profile and cost. Here are 10 ways to help do that.
Like taxes, insurance can be confusing. Many carriers, especially smaller carriers without dedicated insurance experts on the payroll, are at the mercy of an insurance provider. But armed with a little knowledge, carriers can make more informed purchasing decisions.
Many commercial trucking companies will never be impacted by cargo theft, but that doesn’t mean they shouldn’t be prepared. Cargo theft is a multi-million-dollar problem, and like all problems, somebody is going to pay for it.
Using onboard video cameras can not only reduce risky driving behaviors, they can also lead to a significant decrease in insurance premiums, with one fleet reporting it saw its insurance premiums drop 55%.
There is no requirement for cargo insurance, but that doesn’t mean you shouldn’t have it. As you search for motor truck cargo insurance, you will find various plans at various price points. Like those homeowner’s policies, no two are the same. So how do you know what you should be looking for?
Fleets using ELDs say they reduce manual processes related to HOS compliance, reduce compliance violations, and improve driver and public safety. All of these benefits provide fleets another benefit: potentially lower insurance costs.
