Ever feel that all the lawyers in thh Country need to give their lives up for our freedom, by exiting the planet forthwith? Yes, me too. In an article in CCJ-Commercial Carrier Journal entitled "Ticking Away" The Insurance Time Bomb. It discussed how the trucking industry is limiting their insurance expenses by skipping some of the more prevalent coverage. For this reason the trucking companies have begun to add to our service contracts in the service sector, higher limits and more comprehensive additional insured certificates.
All of this just in case a lawyer files a lawsuit. So here you have it one of our most important needs as a society our distribution system being hurt by the legal system, which was suppose to keep us safe. The lawyers are terrorizing the populous and hurting our future as a civilization by hurting our quality of life and high standard of living due to artificial inflation. Yet the same group tends to yield enough political clout to keep this going year after year. Insurance in trucking is up 34% in two years for the basic coverage.
And are you ready for this 87% for the umbrella coverage, which actually trucking accidents and incidents by US DOT statistics is down. So why is this happening? Lawsuits and higher damages and so many frivolous suits are causing the increases in insurance, we all pay this every time we buy something as most of the costs are passed on. This year one accident victim in AZ with a Swift Trucking carrier was awarded 7 million dollars and another for four million, but no one even died and it was not the truckers fault in full. One of the accident's victims had no driver's license and had been suspended and was speeding?
Many trucking companies are asking for 5 million additional insurance certificates for each occurrence when previously 1 million for a service company was high and aggregate was acceptable. These increases in exposure to lawsuits promted the Risk Management teams of these companies to pass the buck to the service companies who raise rates for everyone. One small Onan Cummings dealers has a shop rate of $94.00 and hour for working on portable generators because they average their insurance costs company wide for all services, much of their work is in trucking. The labor is paid $10.00 per hour and it is estimated that $34 for every hour is pure insurance costs? Scared yet? It is still getting worse. And with lawyers spreading reality of responsibility of the lady barreling out of the McDonalds Drive thru who spills coffee to the pourer of the coffee is a bit insane.
If every single mile a truck is driven costs $.20 in insurance then the drivers get less money meaning they quit and newer drivers take over with less experience and Bingo you guessed it you have a self fulfilling problem, due to additional accidents. Now trucking companies will be more dangerous adding to the downward spiral of our current distribution system, with costs passed on and on, on and one, on and on. And do not think this does not effect other forms of transportation like ships and rail, because look at their costs too.
http://nafc.truckline.com
Check it out. It is time to let the lawyers become fallen heroes for saving the free world, they can do this by losing their jobs. We need not create more of them as the legal schools churn out more of these clowns? Over regulation, incessant lawsuits and increased insurance costs are a recipe for disaster which will spill over into all sectors of our economy.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Creativity can be defined as problem identification and idea generation... Read More
You're at a networking function and you've made that all-important... Read More
Geshe Michael Roach is a Princeton graduate and a Buddhist... Read More
In my work with business executives, I have come to... Read More
Many people believe that everyone sees the world exactly the... Read More
So to help start the ball rolling, here are ten... Read More
Which documents must I keep for ISO 9001?In addition to... Read More
You need to know all that is going on around... Read More
Growing companies must always be ready for the next challenge.... Read More
In the last few years a lot has been written... Read More
When you begin to write your business plan or a... Read More
An operations manual can act as a tool for training... Read More
The use of cultural awareness training has increased rapidly in... Read More
I recently gave a presentation to a group of business... Read More
Life has always been full of uncertainties. Over the last... Read More
In many ways there are no secrets to implementing effective... Read More
All small to mid-sized company owners want to know where... Read More
Doing business and meeting the needs of workers is increasingly... Read More
Workers compensation secrets are hidden deep within piles and piles... Read More
There ought to be a sign posted on every closed... Read More
FEAR! To what extent does fear rule your life? How... Read More
The ability to solve complicated problems quickly is more important... Read More
Step 1Get the proper level of Six Sigma expertise at... Read More
Teleconferences can be a boon or a bust. On the... Read More
Your organization's continued growth and success depend on making smart... Read More
"Must Project Managers be technically savvy?" This topic always seems... Read More
Every meeting is a laboratory where you can observe and... Read More
Use your time for problems that are truly important.Hard as... Read More
Q: How much do I have to worry about what... Read More
What is the principal thing you need to succeed in... Read More
Consultant's Perspective...The threat of violence whether it emanates from a... Read More
Most people treat meetings as a free resource that can... Read More
Let me repeat a story I heard many years ago... Read More
Any IT manager who wants to pursue the IT Service... Read More
Recently, I attended a webinar with nearly 400 other Chief... Read More
Faulty information costs you money! Which of these popular business... Read More
Organizations live and die by results. Yet most organizations get... Read More
I recently read an article published in the June, 2005... Read More
Is your online business disaster-proof? Online businesses face a unique... Read More
Maximization methodologies have long been used in business to produce... Read More
Do this simple excercise, and transform your life.First, Make a... Read More
There is an inherent conflict between owners and managers of... Read More
Fundamentals in Place? There is a designated place for everything... Read More
There's a programme currently running on BBC Television in the... Read More
During a recent seminar I gave located in the suburbs... Read More
As Albert Einstein said:-"The significant problems we face today, cannot... Read More
Do you ever feel overwhelmed by e-mail? Have you ever... Read More
Imagine the following scenario - you pay a visit to... Read More
The other day I brought my mother into an appliance... Read More
It has been said, there is no better way to... Read More
"His cardinal mistake is that he isolates himself, and allows... Read More
Recent studies have shown that industrial supervisors are working at... Read More
The game of chess has been applauded and taught in... Read More
DECISION BY AUTHORITY RULE: Many groups start out with-or quickly... Read More
Ah, the wretched pain of delegation. It comes easy to... Read More
The practice of outsourcing business processes has long been subject... Read More
Managers make three mistakes when they try to run businesses.... Read More
I love tennis both as a spectator and... Read More
When you think of all the things companies have, you... Read More
I'm too busy; I'd love to but I'm very busy;... Read More
How many times have the management consultants been 'in' and... Read More
When you first take over a department, expectations are usually... Read More
STEPS TOWARDS GIVING A GOOD APPRAISAL INTERVIEW: Give specific feedback.... Read More
Did you know that maintenance accounts for 50% to 80%... Read More
When the stock market crashed in 1929, there were a... Read More
Creativity can be defined as problem identification and idea generation... Read More
Business Management |