Local Freight Trucking Has Specific Insurance Needs

The nation’s local freight trucking industry topped $99.5 billion in revenue in 2022, according to a November 2023 report from IBISWorld. Even with 10% average market growth each year from 2017 to 2022, plenty of upside potential still exists. Consumers are demanding fast delivery and the barriers to market entry are relatively low for small-scale owner-operators.…

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Make Safe Driving Your Business

Vehicle-related crashes are the leading cause of work-related deaths. In addition to the potential for loss of life, work-related automobile accidents expose businesses to liability risks, legal expenses, lost time, decreased productivity, and increased insurance and workers’ compensation rates. Whether your business leases a single passenger car or owns an entire fleet of commercial vehicles,…

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2023 Commercial Auto Insurance Market Outlook

The commercial auto insurance market has faced substantial underwriting losses and diminished profitability for more than a decade. While the segment continues to face difficult market conditions, rate increases largely remained in the single digits in 2022, demonstrating signs of stagnation compared to double-digital rate jumps that took place in prior years. Nevertheless, several cost-driving…

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Commercial Auto Premiums – can you control them?

Commercial auto insurance rates are based on several factors – some you can control and others that you can’t! Frequency and severity of crashes, auto repair costs, medical and hospital costs, lawsuits and court judgments, insurance fraud, vehicle type, and deductibles are all variables dictating your premiums. This means that while your company’s inherent level…

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