American Property Casualty Insurance Association: Abusive Litigation Practices Are Impacting Trucking, Economy

CHICAGO, Illinois, Feb. 3 -- The American Property Casualty Insurance Association issued the following statement:

Nat Wienecke, senior vice president of federal government relations at the American Property Casualty Insurance Association (APCIA) issued the following statement in response to tomorrow's Senate Subcommittee on Transportation and Safety hearing entitled, "Keep on Truckin': Stakeholder Perspectives on Trucking in America."

"APCIA commends the Senate Subcommittee on Transportation and Safety for holding this important hearing. Commercial trucking operations play a vital role in the U.S. economy and highway safety is a top concern for insurers. APCIA and our members are actively engaged in advancing technology to make commercial and personal vehicles safer, supporting policies to reduce distracted and impaired driving, and improving and modernizing the nation's infrastructure to ensure the safety of our roads.

"However, the trucking industry has been hit with another worrisome trend that could increase costs for consumers. Nuclear verdicts, with skyrocketing jury awards, are approaching near existential levels. Factors such as medial costs, exploitation of the judicial system, and lawsuit abuse are contributing to an increase in costs for the trucking industry and their customers, forcing some companies to shut down.

"We urge the Subcommittee to consider the costs of abusive litigation on the trucking sector and look forward to working with the Subcommittee and the trucking industry to address this problem."

APCIA members write approximately 70 percent of the commercial auto insurance coverage in the United States, including commercial trucking.

APCIA sent the attached letter to Chair Fischer and Ranking Member Duckworth to be placed in the record.

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The American Property Casualty Insurance Association (APCIA) is the primary national trade association for home, auto, and business insurers. APCIA promotes and protects the viability of private competition for the benefit of consumers and insurers, with a legacy dating back 150 years. APCIA members represent all sizes, structures, and regions--protecting families, communities, and businesses in the U.S. and across the globe.