Originally published at: Trucking’s Shadow Insurance Market, 209,854 Crashes, Zero Guarenty Fund Protection - FreightWaves
My investigation found 76 Risk Retention Groups insure nearly 30,000 motor carriers linked to more than 6,300 fatal crashes, all without state guaranty fund protection for crash victims. The findings come as reports indicate that major insurers, including Chubb and AmTrust, are exiting the Chicago trucking market, funneling high-risk carriers into RRGs that have already incurred $199 million in unpaid losses and multiple insolvencies.