The Roemer Report
This Month's Roemer Report
Ka-BOOM! Nuclear verdicts exploding across the nation have fleets looking for liberty this 4th of July
Highway engineers had a good Idea: on long down-hill runs a truck’s brakes may fail, so let’s install emergency ramps to stop runaway trucks. Those ramps are great, and we know a few drivers who know that’s true. If only we had the same thing for the runaway, “nuclear” verdicts and sky-high damage awards now being held against trucking firms and operators.
Unfortunately, there seem to be few ramps to slow runaway verdicts and the consequences are becoming dire for the trucking industry—especially considering its impact on finding affordable truck insurance rates for operators -- and the American Transportation Research Institute (ATRI) says it has the data to prove it.
Existential and financial threat
At the end of June ATRI announced comprehensive research that confirms large verdicts against trucking fleets are increasing dramatically, both in number and in size of awards. ATRI’s says this insight is based on a newly created trucking litigation database that compiles detailed data on 600 cases between 2006 and 2019. In the first five years of the data, says ATRI, 26 verdicts awarded damages over $1 million. Over the last five years of the data, there were nearly 300 cases. Litigators are obviously working hard for that third house despite data that supports most truck collision related deaths are not caused by driver or equipment negligence.
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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!