Hello Truck Focus Family,
I am sure we have all heard the term “Driver Shortage” in recent times, but my thoughts today aren’t necessarily around the controversial subject but more about how carriers can be impacted.
Professional Drivers are the lifeblood of the Transportation Industry, a sector that contributes over $160 Billion to the Canadian Economy. The Men and Women that dedicate their life to this industry, are the backbone of our livelihood which was made most evident at the beginning of the COVID 19 Pandemic and the ThankATrucker Movement.
I am sure we can all agree, that Professional Drivers have a very important role to play and with over 80,000 pounds under their seat there is a large amount of responsibility in their hands.
Insurance Companies recognize this and have also invested more time and resources into evaluating how Driver Behavior and Experience may have an impact on their performance.
Carrier’s may already have had a discussion with their broker, regarding their Insurance Portfolio and how it may have restrictions in regards to specific drivers based on the following (not limited to):
- Experience (Radius, Commodities, Configuration)
- Claims History (more details on claims specifically in next month’s publication)
Keep in mind only specific Insurance Companies have implemented written guidelines/criteria’s; which in some cases actually form part of your Insurance Contract, where others have done so on a case-by-case basis. It is most important to have this discussion with broker, and have a readily available document that outlines your criteria’s/guidelines (if applicable).
This makes it even more important to ensure that you and your broker have regular and honest conversations about your Hiring/Growth Strategies. Your broker can give you insight on how your Insurance Program may be helping/hindering your growth plans. In some cases, your Broker may need to make changes to your Insurance Program to help assist you to achieve specific goals in your business, including onboarding drivers.
We are all in this Industry together, and I believe through open and honest conversation, understanding, and creative thinking we can overcome the issues that your business may be facing.
If you have any specific questions about this month’s article or recommendations for future articles or want a member of our team to give your current insurance program a review. Don’t hesitate to contact us at email@example.com
Till’ next month – keep rolling!
Haaris Karimullah, AVP of Business Development at Leibel Insurance Group
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Thank you again for taking the time to listen, and I hope you have a safe day!