Jury awards that exceed $10 million, also known as “nuclear verdicts,” are on the rise in the trucking industry and could make it more difficult for transportation companies to stay in business.
“While larger trucking companies may be able to absorb the rising cost of insurance, smaller operations may struggle and ultimately pass these costs onto their customers. It is really the smaller and mid-sized operations feeling the brunt of this. They have less financial flexibility.” –John McGlynn, Director, Transportation, Burns & Wilcox, Toronto, ON
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