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Bits & Pieces

Volume 11, Edition 10

Volume 11, Edition 10 (posted 10/28/2008)

Over the years we have been asked by many of our customers why there is no central location in which insurers could report that payments have been made on behalf of a motor carrier solely as a result of cargo or auto filings.  While report can be made to the FMCSA we understand that they take no action and third parties have no access to that information.  In order to assist our subscribers we are considering implementing a program which would allow insurers to report on carriers where filing liability incurred.  As our focus is always to make sure that you “Know Your Insured” the information would then be part of our database and underwriters who participate would have access to that information when considering a motor carrier for insurance. 

In order to consider whether underwriters would be interested in such a program, we would ask that you e-mail us and let us know your thoughts. If the overall response is receptive we will move forward to design such a program.  Please e-mail Jean Gardner, or simply reply to this report.
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Volume 11, Edition 9

Volume 11, Edition 9 (posted 9/29/2008)

This is a difficult month to find any trucking news which is unrelated to the unprecedented economic crisis which the country faces.  Trucking is not alone as every industry is focusing on how these problems will impact their industry.  As we wait to see if the terms of an agreed economic bailout will work, the country seems to be in a holding pattern on all other issues.  But we continue to find items to address.

ECONOMIC WOES – The economic state of the trucking industry has historically been a harbinger of the state of the economy. Unfortunately that continues to be true now, as the economic crisis places a severe dent in the industry’s ability to operate profitably.  A number of publicly traded trucking companies have been hit on the market, with some ratings downgraded this week.  The ATA has announced its support of a possible bailout, noting that the tightening market is making it difficult for carriers to finance the purchase of trucks and the credit crunch is also making collection of accounts receivable more difficult.   Read More

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