Trucking Liability - Hard Time Finding Markets -

[angora]

We have a decent size trucking book. We work with Northland, Essex, Occidental, Canal, National Indemnity, National Casualty through GA's and Progressive directly. We dont have loss issues with any of the carrieres. We write mostly in Chicago area.

Lately we see most of our carriers trying to dump existing business at renewal and find excuses not to even quote the new submissions. We already screen for oos violations and loss issues ahead of time.

I wonder if this is an agency specific issue, maybe we pissed someone off. Anyone else have the same issue placing trucking risk? Anyone aware of a carrier has their appetite set for trucking companies?

Also i see lot of my competition quoting and selling limited mile policies to truckers needing unlimited mile policies and think this might be a leading factor giving carriers cold feet in chicago and three counties surrounding it.

Any thoughts or advise?

 

[Scottyj]

Nope you are not the only one. The long haul class is getting hammered. Here in UT Progressive is non renewing all the little guys with 2 or more failed DOT inspections in the last 24 months which is forceing these guys to pay almost double with National Indemnity and Scottsdale... Trucking is tough right now. I personally am letting up on the reigns for both trucking and construction and looking at other risks now of days. Good luck to you

 

[Matt37]

Scotty and Angora,

Funny I was about to make a post regarding this.

I am in Florida, and my book is 95% transportation (mostly livery) taxis, limos, paratransit, shuttles, etc.

That, restaurants and landscapers make up my book and I've had thoughts on broadening my transportation into long haul.

So you are saying that market is dead right now?? I mean the livery transportation market is brutal right now.. there is a few carriers that write it and 100s of agents that attempt to place it.. it is ridiculous.. same account being same into the same carrier 10-15 times by different agents.

Is trucking a bad idea right now??? See I built my transportation book in a different marketplace.. now it is just impossible to write new business.. everyone is under priced.

Would love to talk to one of you trucker guys on the phone when you get a minute..

 

[Sales71]

I quoted a single tax cap a month ago a toyota prius was over 7k a year. Man taxis are expensive risk.

 

[Matt37]

I quoted a single tax cap a month ago a toyota prius was over 7k a year. Man taxis are expensive risk.

When I first got into livery.. it was 2003 and the hard market from 9/11 was still there.. guys had nowhere to go.

We developed a program with Prime in Salt Lake City.. if anyone knows them.. they are an E&S carrier.

We wrote them at $14k/unit and it was either us or the JUA state program at $20k+ ... in 05 I had like a $3.5M book of livery stuff.

Today, I would say I lost 40% of my book to suicidal carriers that now write this stuff.. just to give you a clue how soft that market is right I just bound a 1 unit taxi last week... Miami account.. $3,500 bucks.

From $14k 10 yrs ago.. to $3,500.. but carriers that write cabs at $3,500 wont be around to long... then the market will harden up again when they realize they are suicidal.. Ahhhh the insurance cycle.

But until then.. I am really trying to start getting into other stuff.. would really like to dabble in trucking as I do love transportation.

But afraid the trucking market is the same way.

 

[Scottyj]

Transportation is not too tough it's just that progressive is a big player in that class and with their changes you have lots of truckers used to paying 15k on a 2 power unit risk having to switch to carriers that want $21k for that. In other words lots of truckers pissing and moaning about rates... It does not help that they are idiots and don't keep their units in line too. They always blame the dot officers... Then you go look at their inspections on the safer web and its a bloody mud flap or light out... Bunch of idiots... Go buy a stupid new mudflap for $40 or a new bulb... Bunch of complainers. I do love the commission on them however they are a real pain

 

[EugeneM]

Love the trucking industry as a telemarketer. They are soo open to getting risk assessments just because of the many problems they face with insurance. It gets crazy with them, I ran into one that had a hard time for contents because they hauled blood...

 

[Scottyj]

Love the trucking industry as a telemarketer. They are soo open to getting risk assessments just because of the many problems they face with insurance. It gets crazy with them, I ran into one that had a hard time for contents because they hauled blood...

Yup. Bees are another hard cargo to cover. Carriers hate bee haulers haha

 

[Justin Bilyj]

I just ran a quote for my bud's trucking here in Ohio, he hauls chemicals, auto, you name it, he goes to all states and canadian provinces.....but couldn't beat Progressive, damnit!! So I aor'd it!

Anybody familiar with Ohio's carriers?

 

[Scottyj]

I just ran a quote for my bud's trucking here in Ohio, he hauls chemicals, auto, you name it, he goes to all states and canadian provinces.....but couldn't beat Progressive, damnit!! So I aor'd it!

Anybody familiar with Ohio's carriers?

Progressive is hard to beat on that class man. Northland and century national or great west may be able to compete, depends on his dot inspections. I find that guys who do it all tend to be high service level. In trucking most guys will stick to one category of commodities. If they are jumping around a lot in many cases they are hurting... Anything for a buck kinda deal, I'd keep him on progressive being they are broad, the other carriers mentioned may have issues.