August Truck Stop Podcast: Late Reported Claims

MCIEF Trucking Insurance Insights

August’s Truck Stop Podcast, “Late Reported Claims,” was hosted by Jim Schoonover, the Education Director of MCIEF, with guests John Liberatore and Burt James, both actively involved with MCIEF’s curriculum development. The episode delved into the critical importance of timely claims reporting in the trucking industry.

John Liberatore discussed his extensive background in truck insurance and risk management, emphasizing the necessity of immediate and thorough claims reporting to prevent potential financial losses and legal complications. He shared insights on the challenges and repercussions of late claims reporting, including the loss of critical evidence and the disadvantages faced in legal defenses.

Burt James, an experienced truck insurance agent, echoes John’s points, highlighting the common industry issue of late reported claims and its impact on insurance rates and underwriting processes. He stressed the importance of immediate reporting, regardless of fault, to ensure a robust defense and partnership between trucking companies and insurance providers.
Both guests provided practical advice for trucking companies, including the need for comprehensive loss reporting procedures and immediate response strategies from claim departments. They emphasize that timely reporting and detailed information can significantly reduce claim costs and improve the effectiveness of claims management.