In a recent interview with The Trucker, outgoing Truckload Carriers Association chairman John Culp noted addressing insurance costs and nuclear verdicts are some of the most pressing issues for the trucking industry, and said lawsuit reform is needed to reduce the burden on businesses: 

Insurance costs have shot well above the rate of inflation, and high-dollar verdicts — often referred to as “nuclear” verdicts — have been the driving force behind those increases. We need litigation reform to help curtail that, to ensure reasonable verdicts….many trucking companies will be forced out of business, either because they can’t afford insurance or because of the unreasonably high verdicts themselves. 

Culp pointed out that these increased costs will be passed on to consumers: 

In the end, these skyrocketing costs are passed along to the consumers in the form of higher prices.

Culp also discussed how the trucking industry, like so many other responsible business owners, are committed to rigorous safety standards. He noted they merely want a fair, level playing field:

As an industry, we carry insurance because it’s the right thing to do. We’re not trying to shirk any responsibility, but the premiums, as well as payouts to plaintiffs, should be reasonable.

The trucking industry is a critical component of the American economy. Truckers safely and efficiently move a substantial amount of goods across the country. Without lawsuit reform, the trucking industry–primarily composed of small businesses–is in jeopardy of severe financial hardship and setback, which ultimately raises prices for consumers.