SWAN Transportation Insurance Update

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Savings, Deductions & Exemptions with Changes in AB5 | Commercial Trucking Update - Q2 2024

Welcome,

At SWAN, my colleagues and I do our best to offer industry news and updates so you may make well-informed decisions on how best to grow your business.

I recently shared a video about AI in the trucking industry and how predictive maintenance systems can help you protect cargo and keep your fleet on the road.

Something we've since noticed are businesses either paying too much or lack adequate protection when it comes to everyone's favorite line item: workers' compensation.

A form of insurance providing medical benefits and wage replacement to employees who are injured or become ill while on the job, workers' comp also protects employers by providing coverage for legal costs associated with workplace injuries or illnesses.

This is especially timely given changes in AB5 laws affecting who can be classified as an independent contractor, including a ruling by a federal judge on March 15 - read the update.

The AB5 ruling mandates transportation employees are properly classified and that your MCP filings are FMCSA compliant.

Inaccurate classifications are where we noticed business owners paying higher than necessary premiums.

I point out this costly gap in premium and benefit rates using readily accessible public information.

With many fleets paying 5-10% more on average than the required workers' comp rate, I can help you properly classify your team into the best group code.

Did you know you could also qualify for exemptions and deductions?
Simply reply to this email or click here to schedule a call with me.

Until then, I wish you much success this year. Should you have any questions or need a fresh perspective on your operation, we are here for you.

Thank you,