The average cost of truck insurance premiums rose 42% from 2010 to 2018, forcing many smaller carriers to exit the industry. One main factor that is fueling these significant increases are the “nuclear verdicts” resulting from jury trials related to vehicular accidents involving motor carriers. Insurance underwriters are forced to recover losses for these verdicts that can easily reach tens to hundreds of millions of dollars.

The first line of defense for a motor carrier to offset rising insurance costs is to take a proactive approach to safety and compliance. From monitoring each of your drivers’ license status on a daily basis, to knowing (not assuming) that their driver qualification files are 100% compliant, are just two simple and inexpensive methods of ensuring compliance and reducing your risks.

Quigley TMS, LLC specializes in helping carriers take the steps necessary to minimize their risks while also reducing their costs. Contact us today to learn more.