Trucking Insurance Trends with Dave Young – Uptime Logistics

Today on Uptime Logistics, Doug Draper visits with Dave Young with USI Insurance and also CU Denver Business School. He’s been in property and casualty insurance for 32 years and is a specialist in a variety of trucking, industrial, and enterprise risk. They discuss ELDs, trucking insurance, enterprise risk mitigation, future trends and unknowns with AI beginning to drive trucks, and finally some of his recommendations.

In addition to insurable property and casualty damage, Dave explores other business risks that aren’t always associated with insurance though ones that are still risks needing to be mitigated such as damage to reputation, supply chain failure, and financial risks that could be hedged.

David sees the future of the trucking insurance market to become more competitive, with rates increasing across the board to the point where it could a major differentiating factor for trucking carriers and many other businesses out there. Those that are best in class will have better access to affordable coverage for themselves and their customers. While there are still many unknowns with automated trucks, it currently seems like they might have a lower risk on incident. Dave recommends getting creative in anticipating risks and designing more efficient risk transfer programs to protect the trucking and client companies.