Intel

A transportation company based in Illinois is being sued for $5.3 million following a devastating accident in which one of its freight trucks reportedly rear-ended a party bus, resulting in the tragic loss of three passengers and injuries to 20 others. In the lawsuit, Triton Logistics, its owner, the driver, and several related companies are accused of negligence and acting…

Shifts in the Transportation Insurance market are reshaping risk exposures. From hazardous haulers to non-emergency medical fleets, Denis M. Brady, Broker, Transportation, Burns & Wilcox Brokerage, San Francisco, CA, provides expert insights on key trends, carrier exits and tightening markets. https://vimeo.com/1027711048/e7b3a6a62d?share=copy

Navigating a rapidly changing Transportation market requires adaptability and precision. Buddy Taylor, Broker, Transportation, Burns & Wilcox Brokerage, North Dallas, TX, provides tips for brokers and agents to secure Excess coverage. https://vimeo.com/1027736735/30143d7d5b?share=copy

Technology is transforming Transportation Insurance. In this clip from the Burns & Wilcox Transportation Webinar, Monica Cantu, Underwriting Director, Burns & Wilcox, San Antonio, TX, explains how AI, telematics, and evolving trends like driver shortages and claims inflation are reshaping risk assessment and pricing. https://vimeo.com/1027742680/957e53e892?share=copy

The trucking industry is navigating a complex landscape, from jurisdictional challenges to rising operational costs. In our latest webinar, experts from our Transportation Practice Group explored the most pressing issues facing Transportation Insurance today. Watch now to gain valuable insights into coverage, pricing, and claims, along with practical tips for brokers and agents to stay ahead of industry changes and…

Last quarter, we indicated the Property & Casualty (P&C) market had reached a relative level of equilibrium not seen in several years. We defined this as an environment where rates and capacity were relatively stable, and carriers could be profitable. The gradual and consistent shift in business from the admitted to the Excess & Surplus (E&S) market is a transformation…

The transportation industry faces a variety of challenges today, including the difficulty of staying profitable as average trucker expenses exceed $2 per mile. To learn more about how Transportation Insurance can help protect companies, we spoke with William Mills, Director, Transportation, Burns & Wilcox, Salt Lake City, Utah. What are some of the greatest risks in transportation today? W.M.: Accidents…

The term “equilibrium” is increasingly being used within insurance circles to describe certain sectors moving toward a state of balance in terms of rates versus supply, terms and conditions. It suggests a growing opinion among industry leaders that Property and Casualty (P&C) is largely in a healthy place. This is true even after a decade-long period characterized by costly CAT…

Cargo theft rates are climbing as sophisticated scammers increasingly target transportation companies using high-tech schemes, according to reports. Freight thefts that involve identity theft, double brokering and online scams are surging, Business Insurance recently reported, with virtual thefts making it possible for criminals to target companies from anywhere in the world. These methods make it faster…

When a fish tanker truck carrying more than 102,000 live salmon overturned on a sharp corner in northeast Oregon recently, a majority of the smolts — about 77,000 — made it into the adjacent Lookingglass Creek, according to reports. The truck had been transporting the fish from a hatchery for release in the Imnaha River, but rolled onto its side…

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…

Many of the primary factors that influenced the status of the Property & Casualty (P&C) market in 2023 are likely to remain in 2024. We continue to operate in a comparatively hard environment marked by rising but moderating rates on some lines of business, where it is often necessary to layer available capacity that includes carefully worded terms and conditions…