Rising insurance costs

Because of the freight boom in recent years, many smaller carriers, especially those that were new entrants to the industry, fell into unsafe practices.

“Nuclear verdicts are destroying the excess market. Until someone puts a leash on these lawsuits, I don’t see prices going down that’s for sure,” said Reliance Partner’s Joe Schreiner.

Out-of-control insurance premiums are driving trucking operations out of business, but leading insurance experts say something can be done about them.