Manage episode 516329314 series 3614002
For 14 straight years, commercial auto insurance has been unprofitable — and for operators, premiums keep climbing with no end in sight. In this hard-hitting episode, James Blain and Ken Lucci sit down with Tim Delaney, President of the Commercial Auto Division at Lancer Insurance, to unpack what’s really driving your insurance costs — and what you can do about it.
Tim explains how “nuclear verdicts,” rising medical costs, and attorney-funded lawsuits have transformed the insurance landscape, why fleet owners are paying for systemic legal abuse, and how to protect your business before a claim ever happens. In this episode, you'll learn:
• Why the legal system, not your loss runs, is inflating premiums.
• What underwriters actually look for (and how safety documentation can lower your risk).
• How to make your company defensible before an accident ever occurs.
• The real meaning of reinsurance — and how global risk pools affect your local premiums.
• Why affiliate vetting and contract structures can make or break your personal liability.
This is a must-listen for every owner and operator facing rising insurance costs and looking to stay financially viable in today’s litigious environment.
Chapters
00:00 Welcome
00:26 Background
02:01 The Myth Of Fleet Insurance
06:49 How Insurance and Re-Insurance Works
12:33 Focus on Re-Insurance
14:07 History In Livery Space
15:14 Risk Categories
18:03 Limits
20:24 Permanent Hard Insurance Market
30:51 Don't Put Your House Up
32:25 Symbol Seven Only
41:38 Will The Storm Break?
49:46 Telematics And Training
52:10 What Sets Lancer Apart From The Rest
58:04 Conclusion
Connect with Tim Delaney: https://www.linkedin.com/in/timothy-delaney-b524a55/
Learn more about Lancer Insurance: https://www.lancerinsurance.com/
At Driving Transactions, Ken Lucci and his team offer financial analysis, KPI reviews, for specific purposes like improving profitability, enhancing the value of the enterprise business planning and buying and selling companies. So if you have any of those needs, please give us a call or check us out at www.drivingtransactions.com.
Pax Training is your all in one solution designed to elevate your team's skills, boost passenger satisfaction, and keep your business ahead of the curve. Learn more at www.paxtraining.com/gtp
Connect with Kenneth Lucci, Principle Analyst at Driving Transactions:
https://www.drivingtransactions.com/
Connect with James Blain, President at PAX Training:
https://paxtraining.com/
62 episodes