THEFT AND HIGHWAY SAFETY: THE INSURANCE INDUSTRY IN TURMOIL

Competitive rates among insurance companies that specialize in underwriting trucking is providing motor carriers with financial gains in small term savings, while providing the insurance industry with record income from high yield interest investments. At the same time, highway safety appears to be suffering as the number of accidents involving tractor-trailers increase and casualty losses associated with those accidents escalate. The victim of these factors is the average motorist. The investment industry's commitment to safety has been replaced by an obsession for investment dollars. Some insurance companies, however, claim to continue to scrutinize a motor carrier's safety and security program to insure its compliance with all regulations. New motor carriers coming into the market have limited capital and shop for the lowest insurance rates. Insurance companies compete for this business. Recommendations for improved safety that cost money are met with threats to take the business elsewhere. Motor carriers cut corners on safety and security because they can save a few dollars. The traditional support services that old line companies offer to motor carriers are not available from newcomers with little or no experience in underwriting truck insurance. One recent development has been the recent decrease in the number of hijackings. The maintenance of a freight accountability program is important in safeguarding cargo. A security program at one transfer company is outlined.

  • Availability:
  • Corporate Authors:

    Chilton Company, Incorporated

    One Chilton Way
    Philadelphia, PA  United States  19089
  • Publication Date: 1983-3

Media Info

  • Features: Photos;
  • Pagination: p. 58-62
  • Serial:

Subject/Index Terms

Filing Info

  • Accession Number: 00386826
  • Record Type: Publication
  • Source Agency: National Highway Traffic Safety Administration
  • Report/Paper Numbers: HS-036 269
  • Files: HSL, USDOT
  • Created Date: Jul 30 1984 12:00AM