Insurance companies may recalculate premiums based on CSA scores
Trucking safety is a major concern for the freight hauling industry. As a result of the Federal Motor Carrier Safety Administration's (FMCSA) Compliance, Safety, Accountability (CSA) program, insurance companies are now recalculating premiums based on scores, Fleet Owner reports.
Insurance companies indicate that CSA scores count only as one among many factors that help determine how motor carrier premiums are calculated. Trucking industry insiders noted that having good equipment, experience, profitability, financial stability and honest dealings with insurance field agents may go a long way toward lowering their risk profile.
"CSA is also still something of an unknown as it remains a work in progress," David Parker, senior legal counsel for Great West Casualty Co., told the news source. "FMCSA is still evaluating the algorithms it uses to calculate scores, and we expect CSA to undergo further changes in the future."
Safety directors may wish to enroll their employees in online truck driver safety training can help individuals stay up-to-date with CSA compliance standards that can affect their insurance premiums.
According to the FMCSA, more than 3 million roadside inspections and 6,000 compliance reviews were conducted by state authorities in 2010.
By Mark Priest
Wednesday, March 23rd, 2011
Trucking safety is a major concern for the freight hauling industry.