Business Insurance: California Business Interruption Coverage During COVID-19
BUSINESS INSURANCE: California Business Interruption/Loss Of Income Insurance During COVID-19 Normal business interruption plans do not offer coverage regarding contagious diseases like those of COVID-19, and have not been actuarially assessed to do so, noted major insurer organizations in a report sent in to Congress members of California Thursday. The correspondence was sent in response…Read More
Transportation – Trucking & Livery- Trucking Plummets! Diesel Falls 3.1 Cents!
China And Coronavirus Hurts Trucking, Decreases Cost Of Diesel In US The average U.S. diesel retail price fell 3.1 cents per gallon, Energy Department reported on March 2. Oil prices began to rise after central bankers around the world gave reassurances that they would undertake intervention measures as coronavirus disrupts economic activity, Bloomberg News reported. Trucking’s…Read More
Aviation – Transportation Insurance: When Is The Report For Kobe Bryants Fatal Crash Expected?
Aviation – Transportation Insurance: The helicopter pilot who crashed and killed Kobe Bryant and eight others was almost out of blinding clouds when he reportedly plunged and crashed into a hillside in Southern California. According to an investigation update released Friday by the National Transportation Safety Board, Ara Zobayan had told air traffic control he was…Read More
Livery Insurance 101: Ride Sharing Platform Uber Wins Big Ruling In Brazilian High Labor Court
Livery Insurance – Ride Sharing Insurance- Drivers Status The Brazilian High Labor Court ruled on Wednesday that there was no work arrangement between Uber and its drivers, contesting the driver of Sao Paulo. This is major news in the industry for livery insurance. Brasilia’s Federal judge ruled that Uber drivers are able to disconnect from the app…Read More
Trucking Insurance 101 – Chadwick Of Kelt Found Fraudulently Financing Commercial Trucking Premiums From Tepco
Trucking Insurance – Insurance Premium Financing Fraud: In Spokane County Superior Court this week, Edward J. Chadwick, of Yakima, Wash., was charged with first-degree theft. Chadwick was an insurance producer, and owned a trucking insurance agency called Kelt, selling trucking insurance primarily to transport companies. He was indicted after an investigation by the Criminal Investigations Unit of Washington Insurance…Read More
Trucking Insurance – Livery Insurance: Insurance Premium Hikes Are Causing Big Disruptions In The Flow Of Trucking Business
Trucking Insurance – Livery Insurance: Premium Increase. Substantial trucking insurance costs impact the trucking company and create a financial burden for businesses already facing the downturn in freight demand. Since losses payout of $10 m or more for Insurers, brokers warn that liability policy costs have increased and will continue to increase. Last year, trucking companies reported double-digit…Read More
Truck Drivers – New DOT Drug Screening Impositions Making Their Way Into Trucking
Truck Drivers Drug Screening: In WASHINGTON, DC, truck drivers will soon face oral fluid monitoring for illegal substances under a new U.S. regulation. Health, and Human Services Agency the Department of Health and Human Services. The introduction of oral fluid specimens into the Mandatory Guidelines for Federal Workplace Drug Testing Programs emerges as discussions on developing…Read More
Best Trucking Insurance Tips – Livery Insurance: Insurance Loss Runs & How To Calculate Loss Ratio.
Trucking Insurance – Livery Insurance: Loss History. What’s Loss Ratio? Loss Ratio (LR) of an Insured is the total actual paid insurance claims (including Claims expenses) on an insurance policy; compared to the actual total premium collected by the insurance carrier, for the same period. Normally LR is measured over a period of not less than…Read More
What’s Going On With AB5 In California (The Downfall Of Trucking, And Other Independent Contractors)
Trucking Insurance – Livery Insurance: New Bill To Enforce Workers Comp Insurance. California’s attempt to reshape the “gig” economy encountered a major roadblock earlier this month when a federal court issued a temporary injunction prohibiting truck drivers from enforcing the state’s new laws, citing a dispute with federal law. The roadblock is by no means…Read More
Trucking Insurance – Livery Insurance: P&C Insurance Premiums Steadily Rising In 2018…
Trucking Insurance – Livery Insurance Premiums Up! As losses occurred heavily in 2017 in the area of P&C coverage, premiums are bound for increases as the companies try to get a hold of major loss impacts. Underwriters are feeling tremendous pressure to make up for these impacts, as this will make the market uneasy but…Read More