Trucking Risk and Insurance Podcast
Calling all trucker heroes and insurance wranglers! Buckle up for another wild ride with the Trucking Risk and Insurance Podcast. Two grey-bearded safety guys take their irreverent look at the trucking pitfalls, risks, and trouble with trucking insurance. They invite the trucking elite on the show to discuss.
This week, John and Chris, are swerving past potholes of peril to deliver the straight goods on keeping your rig safe and your insurance rates lower than a limbo dancer in flip-flops.
We’ll be dodging disasters, dissecting dispatches, and dishing out tips hotter than fresh asphalt. So, grab a lukewarm cup of joe, crank up the air horn of knowledge, and get ready to navigate the trucking terrain with laughter and a whole lot of “you ain’t seen nothin’ yet” stories. It’s the Trucking Risk and Insurance Podcast – spilling the beans on safety and savings, one mile at a time.
You can contact us at
John Farquhar, John@summitrisksolutions.ca 1 226 802 2762;
Chris Harris, Chris@safetydawg.com 905 973 7056
Trucking Risk and Insurance Podcast
One Crash from Bankruptcy: Why Small Fleets are the Most Exposed
In this episode, we sit down with personal injury attorney Aaron to discuss the staggering financial risks facing motor carriers today. From the rise of "nuclear verdicts" to the legal traps that can leave small fleets personally liable, we break down why the industry is currently under-insured and over-exposed.
We dive deep into the legal and insurance mechanisms that every owner-operator and fleet manager needs to understand to survive in today's litigious environment.
The "Reptile Theory" Explained: How plaintiff attorneys leverage jury emotions and anger against corporations to spark massive, "nuclear" awards.
Get in Touch with Aaron Setareh,
Instagram handle: attorney_aaron
Email: ars@bdj.com
Website: bdj.com
The $750k Insurance Trap: Why the federal minimum liability limit—set in the 1980s—is dangerously outdated compared to modern medical costs and life care plans.
MCS-90 & Underreporting Drivers: The severe consequences of misleading your insurer, including the right of the insurance company to seek reimbursement directly from you.
Joint and Several Liability: A terrifying reality where you can be held responsible for 100% of the damages even if you were only minimally at fault.
The "Get Your Own Lawyer" Warning: What it means when your insurance company tells you to hire independent counsel
00:00 – Meet Attorney Aaron: An introduction to Aaron and his personal injury practice in California and Nevada.
01:00 – What are Nuclear Verdicts?: Discussing the massive jury awards and how "Reptile Theory" is used to spark them.
02:53 – Why Trucking Premiums are Skyrocketing: The impact of rising medical costs and underreporting drivers.
04:00 – The Outdated $750k Minimum: Why federal insurance limits haven't kept pace with modern expenses.
06:45 – The Reality of a Pile-up: How a single multi-vehicle accident can instantly swallow a $750,000 policy.
09:20 – The "Mom and Pop" Risk: Why small fleets are particularly vulnerable to total bankruptcy.
10:30 – Denied Coverage & Bad Faith: What happens when an insurance carrier denies a claim due to unreported drivers.
14:40 – Insurance Companies on the Attack: Why insurers fight claims aggressively to protect their own policy limits.
15:30 – "Get Your Own Lawyer": What it means for your exposure when your insurer tells you to hire independent counsel.
19:40 – The MCS-90 Endorsement: Explaining how this federal requirement can lead to the insurer suing the trucking company for reimbursement.
25:35 – Joint and Several Liability: The "legal trap" where you pay for damages even if the accident wasn't your fault.
28:30 – Case Study: A real-world example of how low liability limits and joint liability devastated a claim in 2002.
