Compliance costs rise as carriers juggle tech mandates, inflation, and market churn
As the federal mandate for electronic logging devices (ELDs) settles into permanence, insurers and fleet operators are grappling with a new set of economic and operational challenges – ones that are disproportionately affecting smaller carriers.
ELD compliance costs hit smaller carriers hardest
“There’s equipment that you need to have installed and have monitored,” said Rick Smith Jr. (pictured), vice president and transportation broker lead at Jencap. “Just additional costs that… especially these smaller fleets, some of them are having trouble. In addition, some insured’s prefer not to have ‘Big Brother’…