...only the largest symptom plaguing the trucking industry today.
The biggest problem in the Trucking industry today is the exponential rise in Nuclear Verdicts. Between 2010 and 2018, there has been a 50% increase, year-over-year in nuclear verdict settlements, equating to a 976% average increase in jury verdicts over that eight-year period. What happened after 2018? Nuclear verdicts have continued to skyrocket. A few months ago, there was another billion-dollar verdict levied against a trucking company in our industry.
Even worse, since 80% of all trucks on the road, are owner-operator, a single accident can expose a trucking company to a nuclear verdict settlement of hundreds of thousands of dollars, which is just enough to ruin the future of that trucking company.
You're not going to believe this, but this outrageous inflation in Nuclear Verdicts, the most detrimental problem in the trucking industry today, originated, …from a book.