Afraid of Lawsuits Arising Out of Crashes?

When was the last time you logged into your SmartDrive or other camera system? If your answer is last week, give yourself an attaboy or attagirl! If it’s been more than two weeks, or if you have never logged in, you are setting yourself up to fail in convincing a judge or jury that your company is truly safe. On the other hand, the information in there today – right now – can help you avoid crashes and claims by proactively coaching your drivers, keep you out of court and protect your business.

According to Commercial Risk Insurance and Risk Management News, a review of 154 trucking litigation verdicts and settlements from June 2020-April 2023 revealed a mean plaintiffs’ award of $27,507,334 and a median award of $759,875. For settlements, the mean amount was $10,608,219, and the median was $210,000.

The review was conducted by the U.S. Chamber of Commerce’s Institute for Legal Reform (ILR). In addition, the ILR’s analysis of verdicts in the trucking industry from 2005 to 2019 found that the number of cases with verdicts over $1 million increased by 235% when comparing the latter half of that period (2012-2019) to the first half (2005-2011). In a study of 641 cases with verdicts or settlements of under $1 million, the average payment was $427,336 and the median payment was $400,000.

The ILR says that the study did not capture the overwhelming majority of claims that are settled before any litigation is actually initiated. Still think there’s no need to review camera videos until you have a crash? Think again!