There is a trickle-down effect of the COVID-19 pandemic that permeates almost all aspects of life. In March, the Federal Motor Carrier Safety Administration issued an emergency declaration to suspend long-haul trucking hours of service regulations that have been in place since the 1930s. The goal of this unprecedented declaration: to allow cargo distribution networks to operate as efficiently as possible during these times of rapidly changing directives from federal and local governments.
While regulations for commercial trucking have been eased, other drivers have either been mandated to stay off the road or have fewer reasons to leave their homes. The net effect of that seesaw is crucial to the safety of truckers in the coming months and subsequently will be of interest to commercial auto insurers. In this article, Milliman’s Paul Anderson and Andrew Groth discuss COVID-19’s potential impact on the commercial auto insurance industry.