‘Hard market’ continues to drive truck insurance costs higher

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TORONTO, Ont. – Canada’s trucking industry continues to face rising insurance costs as global insurers back away from the business segment – and cross-border carriers may face some of the biggest challenges of all. It’s known in the insurance industry as a “hard market”, says Northbridge Insurance vice-president of transportation and logistics Todd MacGillivray. And […]

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[Igor Galanter]

"Carriers have secured lower rates by reporting that they are based in different jurisdictions, and underreporting their exposure in areas that represent a higher risk for insurers."

Next thing to regulate or control for so called even field playing, eh..

 

[tasuinam]

"Carriers have secured lower rates by reporting that they are based in different jurisdictions, and underreporting their exposure in areas that represent a higher risk for insurers."

Next thing to regulate or control for so called even field playing, eh..

How is that possible - I know we have to submit our IFTA filing details (unofficially) so the insurer knows exactly what lanes we work. There must be a way of corroborating what the carrier reports.....

 

[Igor Galanter]

It's possible.. The terminal locations are well known, so are all drop yards a.k.a. parking for trucks and trailers...I'm sure there are other ways unknown to me, eh..