The trucking industry has experienced a volatile cycle over the past few years, and it continues to grapple with the COVID pandemic's economic fallout and driver shortages. In 2022, the trucking sector saw a shortage of just over 78,000 drivers, down only slightly from 2021’s shortage of 81,000 drivers (source 1). Controlling losses remains a big challenge for the trucking industry, especially as the need for drivers grows. According to the American Trucking Association, the trucking industry is likely to see a record deficit of 160,000 drivers by 2030 (source 5).

Many private companies, especially early-stage startups, are struggling to find funding, and often, those that do are experiencing “down rounds.” In a down round, a company typically sells larger stakes to new investors at the same cost or less than what earlier investors paid, driving down the company’s valuation and diluting shareholder values in the process. Down rounds pose multiple risks, from reduced capital support, to shrinking confidence among investors and employees, as well as greater exposure to Directors and Officers (D&O) liability.

When it comes to cyber and professional liability exposures, law firms can’t afford to assume that a professional liability policy is enough to cover all the bases. It’s important to utilize the right coverage needed to address different areas of risk. However, despite growing cyberattacks, many law firms still don’t carry cyber insurance or wrongly assume that their first line of defense against cyber and phishing losses is their Lawyers Professional Liability (LPL) policy.

As property insurance prices continue to rise, the stock throughput segment presents opportunities for relief. While insurers limit or reduce capacity for property coverage, particularly in catastrophe-exposed areas, stock throughput offers more flexibility. That pliability is due in large part to a turnaround in the London market following a hard spell propelled by Lloyd’s Decile Ten profit remediation drive that saw some players exit. Now, insureds may be able to obtain coverage at better terms and prices for stock representing a substantial portion of their exposures. However, stock throughput remains a complex marketplace best navigated with the help of skilled and knowledgeable wholesale brokers.

The 2020 E. coli outbreak linked to romaine lettuce sickened more than 160 people, with more than half requiring hospitalization. Fifteen people developed hemolytic uremic syndrome (HUS), a form of kidney failure (source 1). This outbreak was preceded by a similar 2018 outbreak that affected 32 people across 11 states (source 2). Unfortunately, the FDA couldn’t track down the source of either outbreak.