"For-Hire Trucking: The Risky Road Ahead" Webinar

1. Lawsuit Concerns at All-Time High for For-Hire Trucking

The American Transportation Research Institute's annual report showed lawsuit abuse reform reached its highest position in 20 years of industry surveys.

2. New Jersey Sets Precedent with Insurance Requirements for Trucking

In a groundbreaking move, New Jersey became the first state to raise minimum insurance requirements for auto carriers to $1.5 million. This change effectively doubles the FMCSA requirement and raises questions about whether other states will follow.

3. Nuclear Verdicts Drive Industry-Wide Cost Increases for Trucking

Medical costs have skyrocketed, substantially increasing claims expenses even for basic incidents like broken bones. This cost escalation has prompted carriers to reduce capacity and increase rates dramatically.

4. Technology Proves Critical in Legal Defense for Trucking

Camera technology has become essential in defending against litigation and controlling costs in the trucking industry.

5. For-Hire Trucking Faces a Growing Workforce Crisis

The trucking industry faces a critical shortage of approximately 60,000 drivers, according to American Trucking Association projections. This shortage is expected to worsen to 160,000 by 2030 as freight demands increase and aging drivers retire.

6. Long-term Climate Regulations Transform the For-Hire Trucking Industry

California has mandated that all new trucks sold in the state must be zero-emissions by 2045, leading the way in environmental regulation. This landmark legislation signals a broader shift toward sustainable transportation.

7. Driver Assistance Technology Reshapes Risk Assessment for For-Hire Trucking

Advanced driver assistance systems and safety technologies are fundamentally changing how insurers assess risk in the trucking industry.

8. Innovation in Insurance Products Targets Mid-Size For-Hire Truckers

Insurers are developing new insurance products specifically aimed at helping mid-size trucking operations, breaking from the traditional focus on large fleets.

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