Standard market woes, captive growth and the increased importance of navigating relationships with third-party administrators — insurance experts in the commercial trucking arena have helped their clients traverse a challenging road in recent years.
Earlier this month, a panel of transportation insurance experts dissected these issues and more during an Insurance Journal webinar.
Traditional Insurance Market Overview
Kenny Planeta, the senior vice president and transportation practice leader at Heffernan Insurance Brokers, explained that 5-10% premium increases in the standard market are considered wins for trucking clients.
Flat renewals and decreases are “unheard of,