Risk Management

The trucking industry has many moving parts that they must contend with. Trucking companies face many distinct and influential risks involving hauling cargo to personnel transportation across the country. Weather, regulations and compliance, dangerous road conditions, vehicle maintenance and repairs and logistics are just a few concepts that represent a challenge for the trucking industry. These and other concerns make risk management strategies a must for the modern era trucking company. A good strategy can negate many of these issues that could affect a company now and in the future.

Risk management strategies simply involve identifying risk then taking the necessary steps to avoid or mitigate those risks. Each company will have different risk exposure but there are some things that can be done to reduce that exposure. For example a company can make sure they are using risk management practices to influence their day-to-day operational decisions and apply their experience to help promote a safer, more organized company structure.

Drivers have some of the most important risk management strategies that should be observed and put into practice every day. A few concepts for example could be that they maintain their vehicles through safety inspections, adhere to state/federal regulations and company policy for operation and distance, avoid unnecessary risks like travelling in inclement weather, excessive speed or using technology that can cause distractions. Many of these risks and violations can be mitigated by installing hands-free communication devices, making sure drivers are getting the required amount of rest and sleep to combat fatigue and stressing that taking risks to meet deadlines is unnecessary and can lead to potential disaster. Loss of cargo, injury and fines for non-compliance are but a few costly mistakes that can be avoided by implementing sound risk management strategies.

Let NASTC Insurance help you navigate your risk management with good planning and a sound insurance portfolio that will protect you, your company and your employees.