No fleet wants to be the next one to make news for being on the wrong end of a multimillion dollar settlement. And, yet, the latest research from American Transportation Research Institute shows the numbers rising.
As hefty verdicts against fleets become more evident, the effect on business is palpable. Costly settlements have created pressure on employment numbers and cash flow and have changed the way fleets assess risk. Making things even more precarious, the policy provider pool has been shrinking as the cost of claims grows. Many believe reform is needed and industry groups are leading the charge.
Principal & Practice Leader of Risk Finance for TrueNorth Companies, Dan Cook, joins TT's Dan Ronan for a conversation on nuclear verdicts.