Insurance cost and lawsuit abuse identified as persistent key issues for the region.

Baton Rouge, LA – Today the Louisiana Motor Transport Association (LMTA) released the Louisiana Top Industry Issues report for 2023 identifying the legal climate as the state’s top concern. Insurance cost is a persistent problem that will not go away putting a massive burden on the state’s truckers. In fact, it is a problem for every Louisianan hitting their pocketbook monthly. The report, conducted alongside the American Transportation Research Institute (ATRI) 19th annual Top Industry Issues report, identified lawsuit abuse as the other top concern specific to Louisiana. Insurance cost and lawsuit abuse go hand in hand in Louisiana.

“I am not surprised to see insurance cost as the top issue for truckers in Louisiana. It has been a top 10 issue for years because it has not been tackled. We hear concerns from members every day about needing relief from rapidly escalating insurance costs. Add the pressure from lawsuit abuse and skyrocketing prices, it spells a dismal picture for the industry,” says LMTA’s Executive Director Renee Amar.

The most surprising of the results is that the national top issue was the economy and ranked number three was fuel prices, which are hurting everyone. Yet, for Louisiana truckers, insurance cost even outstrips the sickness of the national economy. It is a compound affect for a trucker who possibly deals with high fuel prices on top of inflation and their cost to truck just continues to rise largely because of insurance.

“I have firsthand experience with the issue of lawsuit abuse and trying to find affordable insurance coverage. We have been in business for decades and the sky-high insurance costs are making it extremely difficult for my small, family-owned business to stay viable. There must be a solution, and something must be done,” Karl Mears, owner of Razorback Rentals and LMTA Board of Director’s President says.

Also, in the top ten issues were driver retention and shortage followed by fuel prices and the economy. Other highly ranked issues expressed by the industry on the state level included infrastructure congestion and funding, which comes as no surprise driving through the state. Next was the diesel technician shortage like the worker shortages that every type of business is experiencing. Closing out the top 10 were trucking parking and driver distraction, which are serious issues that truckers experience daily being on the road.

Amar says, “We are grateful that our members told us their top issues. Now we must find solutions, especially concerning insurance cost and lawsuit abuse. We do not believe that there is a silver bullet for these issues but several approaches can help ease the burden. With a new governor and legislature coming into office in 2024, our hope is that everyone is laser focused on problem solving to find common sense solutions that provide a level playing field and fairness for truckers. We are in a desperate situation and need help now more than ever. We truly need all hands-on deck.

VIEW THE FULL REPORT