Telematics

As commercial auto insurance challenges persist, the industry is increasingly leveraging telematics and supporting proposals to address third-party litigation funding.

Coverage provides protection against critical cyber risks facing connected commercial fleets.

Parametric insurance has been around for many years, but with increased data granularity and availability, these special policies are now widely available to fill coverage gaps under admitted policies.

Transparency regarding data protection practices will remain a key factor in the adoption of telematics-driven insurance policies.

While factors like increased repair expenses, more frequent claims and stricter regulatory requirements are responsible for over a decade of premium increases, insurance remains a large cost of doing business.

Trucking companies faced $165 million in nuclear verdicts in 2023, with an increasing trend of thermonuclear verdicts. Mounting costs from these large verdicts present significant challenges for the commercial auto insurance market.

Here are some market trends impacting the commercial auto market, as well as technology and communication techniques agents can use to help their clients.

Restaurateurs face difficulties hiring and retaining staff, an ever-evolving landscape of changing technologies, economic and social inflation, and the recent Department of Labor (DOL) overtime rules changes.