Trucking insurance premiums have increased roughly 5% year over year across the board for the past few years. Despite carriers’ attempts to reduce premiums, rates are still increasing, mostly due to the fact that trucking insurance market has not been profitable for 10 of the past 11 years.
Some of the main factors causing insurance companies to lose money are the rise in cargo theft and nuclear verdicts, which have pushed insurers to increase premiums, making coverage costs a larger burden for...
https://www.freightwaves.com/news/telematics-on-the-rise-in-trucking-insurance-underwriting