The Roemer Report
This Month's Roemer Report
Insurance costs back in the Top 10 ATRI Industry Concerns after 15 years
American Trucking Research Institute (ATRI) recently announced the results of its 2020 annual industry survey. For the first time since the group launched the poll in 2005, Insurance costs/access were back in the top 10 of industry concerns. This reflects the nagging insurance concerns that have been troubling the transportation industry for years. Unfortunately, the commercial auto liability insurance segment has struggled for a decade with unprofitability. It is foreseeable that the triple-whammy of higher numbers of accidents due to distracted driving (frequency) combined with ever-more complicated and expensive trucks that cost more to fix (loss-cost) exacerbated by the meteoric increases in nuclear verdicts (severity) will continue to drive insurance costs up.
Although Driver Retention and Parking are at the top of ATRI’s concerns list, the impact of higher insurance costs is an increasingly vexing challenge for the industry of late.
According to several ATRI analyses of insurance costs, including the group’s annual Operational Costs of Trucking, insurance costs per mile increased 18.3 percent over the last five years.
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The Roemer Report Archives
As you review these archived editions of the Roemer Report, it is remarkable to see how many major ‘hot button’ issues from way back in the day have been the topics of discussion over the many years and right up to the present day. Fuel costs, Insurance, Equipment innovations, Hours of service, the driver shortage (!) safety regulations, traffic bottlenecks and more. The more things change, the more they really do seem to stay the same!
We hope you will enjoy these historical editions of the Roemer Report. Long known as “The Kiplinger Letter of Trucking” our report has been proudly produced by the Trucking Insurance Experts at Roemer Insurance for over 35 years. Roemer Insurance is the parent company of InsureMyRig and The Roemer Report has always been our way of showing our trucking clients that we support their vital industry and that we really do know the difference between a fifth wheel and a steering wheel. Enjoy!