Americans learned just how vital the trucking industry is to daily life during the early days of the COVID-19 pandemic (source 1). Truck drivers all across the country witnessed an outpouring of public recognition and gratitude as the nation coped with shipping delays and supply shortages (source 1). As the economy works to recover, trucking will continue to play an essential role, making it more important than ever that trucking companies protect business operations. Often overlooked, occupational accident insurance should be a key component of any trucking company’s risk management program.

Will premiums increase? Are terms and conditions changing? What lines of business have limited markets? Which lines of business have excess capacity? Here’s what clients can expect in the marketplace for 2021 in a quick and easy to read reference guide.

The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data- driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.

The road ahead may be opening up in the primary auto market after last year’s nationwide economic dislocation brought on by the pandemic. The trucking industry, in particular, endured months of turmoil amid massive shifts in demand as people nationwide began not only working from home—but also staying at home after work. In commercial auto, the shutdown-induced reduction in traffic congestion may have brought a decline in accident frequency. That would be welcome news for insurers in a market where the combined ratio overall has remained above 100 for a decade. (source vi)

2020 was packed with the kind of events that spark claim lawsuits, including the COVID-19 pandemic and subsequent lockdowns that depressed the economy, stressed healthcare systems, and drained both personal and business funds. Last year also saw an increase in cyberattacks, multiple hurricanes, and other disasters that have helped to solidify a hard insurance market for many lines.