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Study: There's a shortage of experienced truck drivers, and it's wreaking havoc on the commercial insurance market

What happens when anyone can get a job driving a truck? Underwriting standards go "out the window."

By Tim Sprinkle | Updated on August 18, 2014
Long-haul truck drivers are a dying breed in this country.

It’s not a good time to be in the commercial auto insurance market, according to a report released Monday by SNL Financial.

Case in point: The second quarter of 2014 marked the seventh straight period of “unfavorable claims development” for National Interstate Insurance, forcing the insurer to strengthen its loss reserves by $20 million in the quarter. What’s more, total adverse prior-year claims development reached $28.1 million in the quarter.

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