WASHINGTON — Regulators are moving ahead with plans for a new registration system that will help the government keep better track of motor carriers and freight brokers.
The Federal Motor Carrier Safety Administration will be asking the White House Office of Management and Budget to review and approve a request to collect new information that will inform the FMCSA Registration System (FRS). FRS will replace the current Unified Registration System (URS), according to a Federal Register notice...
Insurance woes weigh down Knight-Swift earnings
(Source: Knight-Swift)Q4 earnings are in for Knight-Swift, which recorded a $71.7M operating loss from its third-party insurance business.
This might be a future business school case study on risk management. Back in 2021, Knight-Swift launched Iron Truck Services. The press release described it as “an organization that brings together services essential to transportation carriers and includes insurance, equipment maintenance, fuel purchasing,...
https://www.freightwaves.com/news/insurance-woes-weigh-down-knight-swift-earnings
Safety officials want brakes on braking mandate
Proposed rulemaking on automatic emergency braking (AEB) introduced in June by the National Highway Traffic Safety Administration and the Federal Motor Carrier Safety Administration is getting more pushback from a coalition of state law enforcement officials and brake manufacturers that argue more dialogue is needed before moving forward.
To illustrate some of the math that impacts government rulemaking, both the...
https://www.freightwaves.com/news/loaded-and-rolling-safety-officials-want-brakes-on-braking-mandate
Transportation and logistics insurance provider Reliance Partners announced Monday that it has recapitalized the company. It partnered with private equity firm Carousel Capital and venture incubator Lamp Post Group for funding.
With nearly $500 million in gross written premiums, Reliance is the fastest organically growing commercial broker in the U.S., according to a news release. The Chattanooga, Tennessee-based company focuses exclusively on transportation risk management, providing access to...
https://www.freightwaves.com/news/reliance-partners-announces-recapitalization
BulkLoads.com founders Jared Flinn and Matt Fredin are set to unveil a new company focused on insurance for bulk transporters as they continue to build out the BulkLoads ecosystem of services.
Bulk Insurance Group will officially launch on Wednesday and provide insurance coverage for both the transportation and commercial sectors.
“Our goal 11 years ago and still today is to help the needs of small trucking businesses. Insurance is a requirement and we want to solve the pain points by providing...
https://www.freightwaves.com/news/bulkloads-founders-launch-insurance-group
Deaths in crashes involving trucks hit a “crisis” level and reversed a downward trend in place before the pandemic, according to federal regulators.
Based on preliminary data released Tuesday by the National Highway Traffic Safety Administration, total estimated fatalities in crashes involving at least one large truck (gross vehicle weight rating of more than 10,000 pounds) increased by 13% from 2020 to 2021, from 4,965 to 5,601. That compares with a roughly 1% decline between 2019 and 2021...
https://www.freightwaves.com/news/truck-crash-fatalities-jump-13-to-crisis-level
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Reliance Partners, one of the nation’s fastest-growing commercial insurance agencies in the transportation and logistics space, has once again earned a spot on the Inc. 5000 list.
The Chattanooga, Tennessee-based company celebrates its sixth consecutive year on the list of the fastest-growing privately held firms in the U.S., ranking No. 1,559 this year for its 302% three-year growth.
“When you think of an insurance agency, images come to mind of mahogany wood walls and a bunch of people in...
https://www.freightwaves.com/news/reliance-partners-celebrates-6th-straight-year-on-inc-5000-list
It’s safe to assume that the thought of endangering other motorists almost never crosses truckers’ minds when they start their day, but it’s likely that many are inadvertently rolling the dice each time they climb up into the cab.
Safety is perhaps the most talked about topic in trucking today, as many carriers have made it a focal point in gauging success. But with tight deadlines and big money on the line, it’s easy to see why some are led astray by service-based metrics, placing driver...
https://www.freightwaves.com/news/safety-check-no-carrier-thinks-its-unsafe
Most people don’t like to be told that they’re doing things wrong — but don’t want to be caught messing up either.
Constructive criticism is not always easy to hear, but just like applying hydrogen peroxide to a wound, the pain is for the best.
The same applies to risk management in trucking. Some may feel that admitting faults may hurt their trucking machismo. However, the willingness to hear recommendations and make improvements is one of the smartest traits any trucker or motor carrier can...
https://www.freightwaves.com/news/accepting-constructive-criticism-first-step-in-mitigating-risk
