carrier insurance

TIE brings new insurance product to underserved market

Trucking companies do not have many options when it comes to insuring their fleets. This lack of capacity and competition in the market has contributed to the sky-high rates that many companies struggle to pay in today’s difficult economic environment.

Transportation Insurance Experts (TIE) is out to change that.

As a managing general agency and wholesale insurance broker focused on the for-hire trucking industry, TIE has experienced rapid growth in both geographic reach and agency partnerships...

https://www.freightwaves.com/news/tie-brings-new-insurance-product-to-underserved-market

Reducing accidents through driver training

According to the Federal Motor Carrier Safety Administration, semi-trailers account for 53% of all fatal collisions involving large trucks. As a result of the high number of accidents involving semi-trucks, most insurance companies advise carriers to have drivers take driver safety courses regularly to promote safe driving and keep insurance rates low. 

The top reasons for accidents involving semi-trucks are distracted driving, speeding and driver fatigue. 

Regular driver training not only...

https://www.freightwaves.com/news/reducing-accidents-through-driver-training

Georgia bill would restrict truck-crash lawsuits against insurers

A bipartisan measure that would largely protect insurers from being sued directly after crashes involving trucks is on its way to Georgia Gov. Brian Kemp for his signature or veto.

The state House of Representatives passed the bill 172-0 on Monday after the legislation passed in the Senate by a vote of 46-2. Backers say that no longer permitting direct lawsuits against insurers would expand the beleaguered insurance market for trucking companies and lower premiums, media outlets reported.

Insuranc...

https://www.freightwaves.com/news/georgia-bill-would-restrict-truck-crash-lawsuits-against-insurers

Seatbelt use can now be used as evidencein accident lawsuits in Indiana

Gov. Eric Holcomb of Indiana on Monday signed into law a bill that allows a plaintiff’s failure to use a seatbelt to be introduced as evidence in vehicle accident lawsuits. The bill permits juries to reduce damage awards based on that information.

House Bill 1090 has drawn praise from Chris Spear, president and CEO of the American Trucking Associations. After legislators passed the bill in February, Spear said the existing law forbidding seatbelt use as evidence leaves jurors with incomplete...

https://www.freightwaves.com/news/seatbelt-use-can-now-be-used-as-evidencein-accident-lawsuits-in-indiana

Logistics veteran joins board of insurtech LuckyTruck

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Despite challenges, the trucking industry has seen improvements in operational efficiencies and...

https://www.freightwaves.com/news/logistics-veteran-joins-board-of-insurtech-luckytruck

Kleinschmidt takes equity position in meshVI

Integrations solutions provider Kleinschmidt announced Thursday it has partnered with insurance technology vendor meshVI, enabling Kleinschmidt to expand its logistics services. As part of the partnership, the integrations company has also taken an undisclosed equity position in meshVI.

“The partnership is more than the investment for us at meshVI. We look forward to leveraging the technology expertise of Kleinschmidt. They are known for building essential B2B data connections, and we are...

https://www.freightwaves.com/news/kleinschmidt-takes-equity-position-in-meshvi

LuckyTruck raises $2.4M for insurtech, taps industry veteran as CEO

Insurtech company LuckyTruck announced Thursday it has raised a $2.4 million seed extension led by Candid Insurance Investors with participation from Markd, Draper University Ventures and SiriusPoint as the company scales its retail insurance platform that reduces time spent shopping insurance. Since its founding in 2019, LuckyTruck has raised a total of $6.5 million.

While founder and president Devin Bostick is new to the trucking industry, he has dedicated the past three years to consuming...

https://www.freightwaves.com/news/luckytruck-raises-24m-for-insurtech-taps-industry-veteran-as-ceo

Truckstop.com acquires carrier compliance firm RMIS

Online load board and digital freight marketplace Truckstop.com announced Monday the acquisition of RMIS, the Westlake Village, California-based carrier compliance automator.

RMIS’ capabilities — the most important of which is fulfilling 98% of freight brokers’ requests for carrier certificates of insurance within 60 seconds — will augment SaferWatch, a similar carrier onboarding solution acquired by Truckstop in 2018.

“There are two primary reasons why we did the deal and why we’re excited about...

https://s29755.pcdn.co/news/truckstop-com-acquires-carrier-compliance-firm-rmis