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January 17, 2020

Insurance Rates Skyrocketing Because of “Litigation Environment,” Trucking Exec Says

The president of Jetco Delivery told Fox Business that insurance rates in the trucking industry are skyrocketing, and the “reason for it is the litigation environment.”

Brian Fielkow said “[i]nsurance companies are just deciding not to [underwrite] trucking companies” after several years of nuclear verdicts against the industry. According to the Roetzel & Andress law firm, just 12 verdicts totaled $900 million of awards between 2012 and 2015. Two other industry leaders say the effects of rising insurance rates will affect smaller trucking companies the most.

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