Jury awards that exceed $10 million, also known as “nuclear verdicts,” are on the rise in the trucking industry and could make it more difficult for transportation companies to stay in business.
“If they do not have high enough insurance limits, they risk losing their company because they may pay the judgment one way or another. As the insurance becomes much less affordable, you will see additional companies go out of business and additional consolidation.” –John Woods, Vice President, National Practice Group Leader, Transportation, Burns & Wilcox, Scottsdale, Arizona
Featured solution: Transportation