Dec 02, 2024 at 03:32 PM CST
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Excessive legal settlements and soaring inflation costs are frustrating the trucking industry, despite technology and culture improvements enabling carriers to achieve new levels of safety, according to Werner Enterprises President and Chief Legal Officer Nathan Meisgeier. Nuclear verdicts and settlements, or those that cost $10 million or more, are the most problematic, Meisgeier said Nov. 19 at the Stephens Annual Investment Conference in Nashville, Tennessee. But even smaller cases that used to impose a $50,000 liability are now reaching three or four times that amount, he added. Even though Werner has made significant progress to lower risks, insurance inflation has created a perplexing trend, he said. |