New Jersey’s leading insurance trade group says umbrella coverage is likely the way to go for fleets looking to meet the state’s new $1.5 million minimum.
New Jersey is raising its truck liability insurance requirement to $1.5 million, one of the highest in the U.S.
The best way to attract and encourage safety practices within an organization begins with a top-down approach, according to Reliance Partners’ Robert Kaferle.
By implementing a strong safety and compliance program — like Reliance Partners can help them build — carriers can minimize risk and pay less for insurance.
The podcast covers three topics: truck insurance, its impact from AB5 and what links prices for natural gas and diesel to the removal of sulfur from fuel.
Federal regulators told Congress that insurance companies are refusing to share data about the costs of claims from truck and bus accidents.
Underinsuring your truck can leave you on the hook for thousands of dollars in the event of an accident.
Big Benefits for Small Fleets: The CarrierHQ Difference
U.S. House passes the five-year surface transportation reauthorization that boosts truck insurance requirements and mandates automatic braking on new trucks.
Compliance reviews can catch any motor carrier off guard. Reliance Partners’ John Seidl encourages participation in mock audits to reveal and correct violations before the federal government does.
Sahej Singh steps through Reliance Partners’ usage-based and API insurance offerings for the transportation and logistics industry.
Commercial truck insurance cost variables
Shipment-specific insurance coverage is now available from UPS Capital directly through InMotion Global’s AscendTMS. InMotion Global has also partnered with Superior Trucking Payroll Services for payroll options.
Reliance Partners’ Jordan Chastain explains that controlled growth is the key to successful fleet scalability.
“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.
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Amendment more than doubles current minimum of $750,000 for commercial trucks
KeepTruckin has started a petition asking congress to extend forgivable loans to cover truck lease/purchase payments and insurance costs.
It’s shut down businesses and thrown planning into turmoil. No, it’s not COVID-19. It’s the rising insurance rates that trucking companies have been facing over the last few years. The problem seems to have gotten particularly acute in the last year or two and insurance rates have been cited by several trucking companies as a […]
Insurance spikes can be attributed to the ongoing threat of nuclear verdicts.
