Throughout the pandemic, the Transportation industry served as the lifeblood of the U.S. economy, delivering a steady stream of essential goods to meet the demands of consumers sequestered in their homes.
And now, a little more than a year after the pandemic triggered one of the steepest economic declines in history, the speed of the rebound has been so startlingly swift that many companies in the Transportation industry are struggling to keep up.
The increasing demand for transportation services during the recovery is certain to fuel future claims, while developing losses associated with nuclear verdicts, social unrest, natural catastrophes and business interruption will continue to erode insurer profitability.
Increased business volume is further forcing up freight costs that had been steadily climbing pre-pandemic in response to higher fuel and maintenance costs, increased use of telematics and the larger salaries needed to attract drivers.
What can agents and brokers do to navigate the Transportation market for their clients?
The 2021 U.S. Transportation Market Outlook will help you put your transportation clients in a better position, with key information and insights:
View of overall market conditions, including post-COVID renewal cycle
Deep dive into the trucking, intermodal container, public auto and business auto segments
Insights into emerging issues, including driver shortage, cyber risks, autonomous vehicles, cargo theft, last mile delivery and the effect of raising minimum liability limits