Buyers of commercial auto and trucking coverage have reason to celebrate, as a line that usually is one of the last to soften is now a "buyers' market," according to those placing coverage for this exposure. "I think everybody held the line right after [Sept. 11, 2001], and for trucking, that has lasted up until about right now," said Dave Pohle, manager of trucking and transportation at Montvale, N.J.-based Jimcor Agencies, an excess and surplus lines wholesaler.
Mr. Pohle specializes in finding coverage for fleets up to 50 trucks–with the great majority of his insureds owning one-to-10 trucks. He noted that trucking–usually the last line to join a market trend–is seeing a definite southward slope in premium pricing.
Prices are falling despite the fact that competition for the market has eased up, with fewer insurers in the market, according to Mr. Pohle.
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