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

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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.

 

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.
 

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.
 

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.
 

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.
Copyright © 2024 A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.