Telematics

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

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.

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.