Commercial auto vehicle drivers often fall victim to the same claims scenarios that apply to any drivers, including severe and sporadic weather events. High winds, precipitation and related poor pavement conditions pose risks to commercial auto operators, as well as to their fellow drivers along their routes. (Credit: WR7/Shutterstock.com) Commercial auto vehicle drivers often fall victim to the same claims scenarios that apply to any drivers, including severe and sporadic weather events. High winds, precipitation and related poor pavement conditions pose risks to commercial auto operators, as well as to their fellow drivers along their routes. (Credit: WR7/Shutterstock.com)

The insurance industry has seen an increase in the number of commercial auto claims, the costs of those claims and a subsequent rise in premiums. Given the variety of factors at play including supply chain delays, labor shortages, an increase in weather events, and more, this trend will likely continue, making risk mitigation strategies a top priority for business owners across a number of industries.

To best assist policyholders with commercial auto fleets, agents and brokers need to make sure they understand the factors influencing their insureds’ rates, and what their insureds can do to mitigate their risks.

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.