The latest insights from our partner, AmWins, reveals a dynamic transportation insurance landscape in 2024, characterized by competitive pressures and regional capacity constraints. Amidst this, trucking insurance remains a battleground for businesses, with commercial auto markets facing firm pricing and notable exits.
Here’s what’s happening:
➡️ Regional Struggles: Places like Atlanta, Florida, and Texas are seeing significant capacity constraints, impacting both pricing and availability.
➡️ Technological Advancements: Innovations such as AI and enhanced dashcams are reshaping safety and operational efficiencies, offering new ways to manage risks.
➡️ Economic Pressures: Legal claims and inflation are pushing up costs, with nuclear verdicts creating additional financial strains.
Despite these challenges, solutions exist. From adjusting to market exits to leveraging technology, companies can find ways to navigate these turbulent times.
At Transtar, we continue to support the industry with tailored insurance solutions and strategic advice, helping businesses stay ahead in a rapidly evolving market. Stay informed and prepared—partner with specialists who understand the intricacies of the transportation industry.
#TransportationIndustry #TruckingInsurance #MarketInsights #TranstarInsurance
Ocean Cargo Underwriter / CNA
7moCongratulations! What an honor and so well deserved!