“If a carrier can’t afford premiums on a $2 million insurance policy ... should be ... trucking"

I was just asking for clarification on the thread title. The way it is worded is a little confusing. But I catch his drift. I will say that even if you're a one man dog & pony show and you have any kind of assets, 750K GL is probably not enough insurance protection.

 

Most, if not all of the major trucking insurance carriers won't have any issue with providing $ 2MM limits. The additional premiums will range from 20 - 50% over their existing $ 1MM pricing. Obviously, if you are one of the few that still has $ 750,000 CSL the additional premium will be a higher percentage.

 

Surely it's not driven by the "Truck Wreck" lawyers seeking higher payout's for their client's(read, the lawyers bank account)???

 

Not the politicians with ties and or stakes in law firms who specialize in truck wrecks. It’s all about the Money nothing more. Ok so let’s say we go to 3 million dollars that is going to cause more inflation in the economy. Mega fleets are self insured so they could care less.

 

97% of fatal truck crashes fall bellow minimums. Its a gamble. But I carry a million liability, 2 million general, 150k cargo, 1 million personal embrella.


Cash grab by greedy pricks.

 

Pretty much..
Hard for a lawyer to enjoy a nuclear verdict if the company folds before the gavel drops.

 

Granted, I work for a Berkshire Hathaway insurance company as a Underwriting/Office Manager. Don't sell.

My comments are to inform you guys based on my 52 years of doing this gig.

From what I've heard/seen on the forum, the vast majority don't have a clue about how insurance companies work, or how they think....so just try to give you a inside view.

I retire at the end of next month, so REALLY have nothing to gain from my comments.

 

Well of course I own BH stock.....but not sure how germane that is to what I have commented on.....I've never tried to "sell" anything or to anyone on the forum.....just give a view from the insurance carriers view in lieu of your myopic view.