| Market Spotlight
June 8, 2022 |
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Market Spotlight: Trucking It's a challenging time for the trucking industry. There has been an unexpectedly sharp downturn in demand to truck everything from food to furniture since the beginning of March and rates in the segment for on-demand trucking jobs - known as the spot market - are slipping. After eight straight gains totaling 6.9%, for-hire tonnage finally slid back in April, according to the American Trucking Association's Chief Economist Bob Costello. Despite being the largest sequential drop since August 2020, the index was still above where it started in 2022 and a year earlier, he added. Right now, motor carriers are getting slammed by surges in the price of diesel. That's tough on smaller fleets, which don't operate at a scale to negotiate rates down or lock prices into a contract. In addition, trucking insurance costs have been on the rise for a number of reasons, according to the American Transportation Research Institute. The ATRI reported that insurance premium costs per mile increased overall by 47% over the last 10 years, from 5.9 cents to 8.7 cents. A new ATRI report, "The Impact of Rising Insurance Costs on the Trucking Industry," found despite reductions in insurance coverage, rising deductibles, and improved safety, almost all motor carriers experienced substantial increases in insurance costs from 2018 to 2020. |
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| MJH can help you with Short and Long Haul Trucking Coverages. We have many domestic and foreign insurers offering terms. 24 hr turnaround quotes with your complete submission for your MTC, APD and GL risks with 1-5 Units. Extremely competitive rates small and larger fleets. States: Nationwide footprint with focus on AK, AZ, CA, HI, NV, OR, WA Offered by: M.J. Hall and Company, Inc. |
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| Guardian puts the power of rating in our agents hands. Our Motor Truck Cargo and Physical Damage rater is available for most states, for trucking companies with 1 unit & up. Get competitive Cargo and Physical Damage rates in seconds. Truckers GL & NTL also available. Admitted and non-admitted carriers. New ventures with experienced drivers are welcome! States: All states except AK, HI, NY Offered by: Guardian Insurance Wholesalers, Inc. |
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| Applied Underwriters designs workers' compensation insurance and risk management solutions for businesses across the U.S. All classes, all states, all business sizes, broad acceptance. Insurance carriers rated A+ (Superior) by AM Best Company. States: All states Offered by: Applied Underwriters, Inc. |
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| With more than 20 years of experience, True Transport Insure (TTI) - a best-in-class program built by NSM Insurance Group - provides high-performance owner-operator insurance programs, along with coverage for motor truck cargo and a growing list of risks in the trucking industry. TTI works with multiple A-rated carriers to provide robust coverage that ... States: 50 states + DC |
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| *Federal and state filings are available. We insure Cargo Vans, Sprinters, Box Trucks and more. |
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| Client provides vaccination services for CDC within CA. We are looking for General Liability, Commercial Auto, Work Comp and Sexual Misconduct. Please advise who has a market. by mcguirereidagency on Tue Jun 7, 2022 Any markets out there for foreign workers compensation? Please advise. by kris.h on Tue Jun 7, 2022 Hired physical damage for a box truck in Texas that deliverers furniture and appliances. by tvactor on Tue Jun 7, 2022 I need a hotshot maket for a single truck and trailer California only Maybe 12 western states. I have had them insured 1 years no claims. Insurance is non renewing. by wetryharder on Mon Jun 6, 2022 Looking for a market for a Country club that offers various activities listed below: Trap and Skeet, Axe Throwing, Archery, Fishing, Hiking, Biking, Kids Camp, Wake Surfing, Paddle Boarding. Water Skiing, Tubing, Wind Surfing, Boat Riding, Paddle Boating, Wake Boarding, Kayaking, Camping, Climbing Wall by jtbelair on Thu Jun 2, 2022 |
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