Third-party litigation funding, anti-corporate sentiment among juries, and other factors have created an environment over the last decade or so in which huge settlements and awards are commonplace. Third-party litigation funding is the practice of investors’ buying an interest in the outcome of a lawsuit and has quickly become a multibillion-dollar industry, contributing to the … Continue reading “What’s the Difference Between Umbrella and Excess Liability Insurance? “
An auditable insurance policy is one in which the premiums the insured pays are based on payroll and/or sales projections at the start of the policy term and then adjusted based on actual figures at the end of the term. Auditable policies are typically used with Workers’ Compensation and Commercial General Liability insurance, but can apply … Continue reading “Inside an Auditable Insurance Policy”
Workers’ Compensation insurance provides coverage for employee on-the-job injuries and illnesses. A business pays an estimated premium at the beginning of the year that is based on a number of factors, including payroll; industry classification (different industries have varying levels of risk with regard to workplace injuries and illnesses); employee classification (a driver is at … Continue reading “Ensure Smooth Workers’ Compensation Premium Audits “
The trucking industry is responsible for moving 72.5% of our country’s freight. Small trucking fleets, characterized by six or fewer vehicles, are responsible for handling 91.5% of this freight, demonstrating the significant role they play in the movement of goods across the country. Following are several reasons why we rely on small trucking fleets to … Continue reading “The Importance of Small Trucking Fleets in Freight Transportation”
An Occupational Accident Program (OAP) provides a level of financial protection and support in the event of work-related accidents or injuries for independent contractors or owner-operators who may not be covered by traditional Workers’ Compensation insurance. It is commonly used in industries where independent contractors are prevalent, such as trucking and transportation, and is typically … Continue reading “The Benefits of Sponsoring an Occupational Accident Program for Motor Carriers”
Late insurance payments occur for a number of reasons, including accounting oversights or cashflow issues. However, it’s important to be aware of how late insurance payments can affect your trucking business. Coverage Gaps If insurance payments are not made on time, the trucking company’s policy may cancel and lead to a loss of coverage. For … Continue reading “The Importance of On-Time Insurance Payments”
Driver training is critical for trucking companies to ensure safety, regulatory compliance, efficient operations, cargo protection, and risk management. Trucking companies have a responsibility to ensure the safety of their drivers, other road users, and the cargo they transport. Proper driver training in tractor-trailers plays a crucial role in promoting safe driving practices, teaching defensive … Continue reading “Why Proper Training of Truck Drivers Is Critical”
As part of a requirement under the bipartisan Infrastructure Investment and Jobs Act (IIJA), in 2022, the Federal Motor Carrier Safety Administration (FMCSA) established the Safe Driver Apprenticeship Pilot Program (SDAP). The goal of the three-year program is to help individuals ages 18, 19, and 20 explore interstate trucking careers and help trucking companies hire … Continue reading “Lawmakers Looking to Get the Younger Generation Behind the Wheel”
The Federal Motor Carrier Safety Association (FMCSA) in February announced proposed changes to its Compliance, Safety, Accountability (CSA) program to reduce and prevent crashes. Public comments on the proposed changes are due this month. The FMCSA’s goal is to ensure greater consistency in results by holding similar carriers to the same standard, regardless of how … Continue reading “FMCSA Proposes Changes to Its Safety Measurement System”
In a previous article, we discussed the requirement for daily vehicle inspections by the U.S. Department of Transportation’s (DOT) Federal Motor Carrier Safety Administration (FMCSA). In this article, we will look at the requirements for 90-day inspections, as required by the state of California. If your truck has a GVW (gross vehicle weight) rating of … Continue reading “90-Day Truck Inspections: Part II”
