Trucks are taking over American highways, thanks to an increase in pandemic online shopping and disruptions to global supply chains. They’re chewing up the pavement along the way, adding to the congestion and irritating residents who have to contend with 18-wheelers and delivery trucks as soon as they pull out of their driveways. They’re also… Continue reading U.S. Highways Are Overrun with Trucks
Tag: transportation insurance
New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
The recently enacted $1.2 trillion U.S. infrastructure package is expected to result in more business opportunities for surety companies given the new and sizable investments that the transportation and energy sectors will see, according to a new AM Best report. The new law includes $550 billion in new spending on infrastructure over the next five… Continue reading New Infrastructure Law Expected to Boost U.S. Surety Market: AM Best
Auto and Truck Insurers Confront Rapidly Rising Claims Costs: S&P Global Market Intelligence
Sharply higher costs to repair and replace vehicles will cause insurance companies’ underwriting profit margins to narrow significantly, projects S&P Global Market Intelligence’s annual US Auto Insurance Market Report. Published by S&P Global Market Intelligence’s Financial Institutions Group (FIG) Research team, the report spotlights the unprecedented effects of Covid-19 on the personal and commercial auto… Continue reading Auto and Truck Insurers Confront Rapidly Rising Claims Costs: S&P Global Market Intelligence
Texas House Bill Could Shield Companies from Liability after Commercial Vehicle Crashes
People affected by crashes causing bodily injury or death involving commercial motor vehicles would find it harder to win damages from companies under a bill that was approved by the Texas House and is making its way through the Senate. Commercial motor vehicles include 18-wheelers, Uber and Lyft vehicles, delivery trucks and any other vehicle… Continue reading Texas House Bill Could Shield Companies from Liability after Commercial Vehicle Crashes
Roanoke Expands Operation in Canada
Roanoke announced the opening of a new Canadian company headquartered in Toronto, ON. Names Industry leader Glenn Patton as Managing Director. Roanoke Insurance Group Canada, Inc. (RIG CA) will operate as a retail and wholesale broker providing insurance and surety bonds to Canadian companies involved in logistics, transportation and shipping. RIG CA is an affiliate… Continue reading Roanoke Expands Operation in Canada
Traffic Eases Amid Pandemic, but Trucking Insurance Costs Still on Upward Trajectory
Reduced highway traffic during the ongoing COVID-19 crisis has lowered the risk of crashes, but this silver lining of the pandemic has provided only a temporary reprieve for trucking companies that have seen escalating insurance costs in recent years. When the coronavirus outbreak first took hold in North America, miles traveled by the general public… Continue reading Traffic Eases Amid Pandemic, but Trucking Insurance Costs Still on Upward Trajectory
Truckers Are Seeing Growing Freight Volumes
Trucking companies are reporting stronger freight demand as retailers and manufacturers move to restock depleted inventories, in a sign of strengthening corporate confidence in the U.S. economy. Old Dominion Freight Line Inc. and Saia Inc. both said this week that tonnage on their trucks was up in the first weeks of the third quarter, while… Continue reading Truckers Are Seeing Growing Freight Volumes
Truckers’ Required Insurance Coverage Could Increase to $2M
An amendment to a bill circulating on Capitol Hill would more than double the required minimum amount of insurance for commercial motor vehicles. Currently, the Federal Motor Carrier Safety Administration-required minimum coverage is $750,000, but the adjustment increases that amount to $2 million. The amendment to the INVEST Act was passed by a House committee… Continue reading Truckers’ Required Insurance Coverage Could Increase to $2M
U.S. Revises Hours of Service Rules for Truck Drivers
The U.S. Transportation Department on Thursday published new rules revising hours of service requirements for truck drivers that will expand short-haul driving and save the industry $2.8 billion over 10 years. The department’s Federal Motor Carrier Safety Administration (FMCSA) said the changes include lengthening the short-haul drivers’ maximum on-duty period from 12 to 14 hours… Continue reading U.S. Revises Hours of Service Rules for Truck Drivers
U.S. Suspends Truck-Driving Limits to Speed Coronavirus Shipments
U.S. highway-safety regulators are suspending rules that limit daily driving hours for truck drivers moving emergency supplies such as medical equipment, hand sanitizer and food in response to the nationwide coronavirus outbreak. The Transportation Department’s Federal Motor Carrier Safety Administration announced the nationwide exemption late Friday, following President Trump’s declaration of a national emergency over… Continue reading U.S. Suspends Truck-Driving Limits to Speed Coronavirus Shipments