What's Happening?
The American Transportation Research Institute (ATRI) has initiated research to examine rising insurance costs and risk management strategies in the trucking industry. The study will analyze insurance coverage trends from 2021 to 2024, focusing on fleets'
use of safety technology and alternative insurance arrangements. Motor carriers across the U.S. are invited to participate, with data remaining confidential. Participants will receive customized reports comparing their total cost of risk with anonymized peer data.
Why It's Important?
Rising insurance costs pose significant challenges for the trucking industry, impacting operational expenses and risk exposure. ATRI's research aims to provide insights into effective strategies for managing these costs, which is crucial for maintaining industry stability. By identifying trends and best practices, the study could help carriers optimize their insurance coverage and reduce exposure to catastrophic litigation.
What's Next?
Motor carriers have until December 19 to participate in the survey. The findings will inform industry stakeholders on potential strategies to mitigate rising insurance costs. The research could lead to recommendations for policy changes or new risk management approaches.
Beyond the Headlines
The study highlights the broader issue of financial sustainability in the trucking industry and the need for innovative solutions to manage risk. It underscores the importance of data-driven research in shaping industry practices and policies.
