Welcome to spring. It is a wonderful time of the year as we are all revitalized by the fresh spring weather. Speaking of reV*I*T*A*Lization, in case you missed our recent news bulletin, we are pleased to announce the introduction of our newest service, Vehicle Inspection Tracker and Locator System, otherwise known as VITAL. Now you can track individual vehicles and obtain even more critical information to underwrite and manage claims better. If you are a premium subscriber you already have access to this program for the rest of your contract. If you are not, you should be a subscriber. Call Laib Roberts at (212) 244-6575, ext 227 or e-mail by clicking here to arrange for your free trial of this amazing program.
This month we report:
BANKRUPTCIES – The economy continues to take its toll on the transportation industry. This month saw 4 more good size carriers go under. Mid-States Express, Inc., Price Trucking, F.T. Silfies and Gulf Coast Transport have all sought protection from the bankruptcy courts. There have been reports that some trucking companies are mandating across the board pay cuts in order to keep operations running. Avondale Partners, a financial analyst has reported that 480 trucking companies went out of business in the first quarter of 2009. This should stress upon all that financial underwriting is very critical in this market.