Worker's comp putting a dent into fleets' operations

As with any kind of driver, truckers require insurance in the event of anything going awry while on the job. However, enrolling in online truck driver safety training could help curb the instances of accidents, making it less likely that something goes wrong.

Fleet Owner reports that because of these insurance rates, the fleet companies are facing significant costs. However, what is worse is the amount that goes into premiums for worker's compensation, which continue to rise in cost at a fast rate.

"To summarize, transportation insurance rates have been skipping along the bottom now for the last several quarters and there is not a whole lot of material upward movement to be expected," Richard Augustyn, chief executive officer (CEO) of the NIP Group, told Fleet Owner. "The exception, however, is worker's comp. The feedback we are getting is that worker's comp rates may be starting to trend up."

He continued that more than half of the respondents of the survey indicated that the cost for worker's comp were either flat or up from the second quarter.

Worker's comp putting a dent into fleets' operations

Thursday, March 10th, 2011