November 16, 2023
Source: Insurance Journal
ORLANDO, Fla. — Cameras. One showing the driver and another facing forward.
Those can be the keys to avoiding nuclear verdicts after auto and truck crashes, especially for companies with fleets of vehicles and relatively inexperienced drivers, two Crum & Forster risk executives said Monday at the International Risk Management Institute’s Annual Construction Risk Conference.
“Fleet liability has not been profitable for insurers for a long time,” said Paul Anderson, vice president of field underwriting for the national group of property/casualty insurance companies.
That means that premiums continue to rise, forcing insurers and insured companies to take steps to reduce losses, prevent accidents, prove fault – and to minimize the cost of jury trials that can end up in multi-million awards for motorists injured or killed by a company vehicle.