Underwriting Trucking Risks: Cutting Through The Data Noise And Identifying Trends-Underwriting Trucking Risks: Cutting Through The Data Noise And Identifying Trends

Underwriting Trucking Risks: Cutting Through The Data Noise And Identifying Trends

Video Transcription

Video Summary

The webinar focused on underwriting trucking risks by utilizing data from the Federal Motor Carrier Safety Administration to make informed decisions about individual insurers and the industry. Presenters discussed challenges in the trucking industry, including tight market capacity in liability excess coverages and the importance of understanding a motor carrier's operations through data analysis. Factors such as crash prevention determinations, power unit counts, inspection trends, and accident ratios were highlighted as crucial in assessing risk and uncovering compliance issues. The transcript further elaborated on evaluating risk factors like distance traveled, cargo at rest, and financial aspects when underwriting. Verifying data, trend analysis, ongoing monitoring, and understanding different types of operations were emphasized for effective risk management. The session concluded with a reminder to continually improve underwriting practices by using available information and seeking feedback for future educational topics.

Asset Caption

Date of Publication: June 25, 2020
Duration: 67 minutes

Trucking risks can be tricky. Underwriters must contend with safety history, financial strength and driver experience to name a few.

Meta Tag

Module Transportation

Keywords

Underwriting trucking risks

Federal Motor Carrier Safety Administration data

Insurance industry

Trucking challenges

Market capacity

Data analysis

Risk assessment

Compliance issues

Crash prevention

Underwriting practices