Double down or shut it down

Plus: How to successfully adopt new tech

If implementing AI or a new software feels overwhelming, we're sharing a guide and checklist that can help. Plus, we're looking at the latest regulatory news and how it affects your company, from independent contractor changes to revoked ELDs.

But first: last week, we ran an item about preparing for the long game in trucking, and one reader's response caught our eye.

Jon D. Tanner, J.D., of SWZ Insurance shared the following:

"I am a retail insurance broker that has specialized in the trucking industry for the past 30+ years, and I can honestly say that one of the primary keys to surviving a down market like what we are currently experiencing comes down to a trucking company’s management/ownership being truly committed to safety and compliance. Obviously, a true commitment to safety and compliance will include telematics proficiency, and not just installation. So many fleets simply install a Samsara system, or another similar system, and then hope for the best.

"I have a law degree, and a large part of what we do here is to work with our fleets on becoming safe, compliant, and properly insulated from a potential shock loss by proper corporate structuring, and adequate risk transference through insurance coverage. We regularly work with the safety departments of our fleets to learn the ins and outs of their telematics systems and proper driver monitoring through use of the integrated cameras.

"In short, the fleets who get the importance of safety and compliance pay on average 50% less for fleet insurance than those who don’t. This is the first year I can honestly say that I have seen trucking companies being forced to close their doors solely due to massive increases in liability insurance premiums. With more data available to insurance underwriters than ever before, the CAB reports and Safer profiles of trucking fleets are scrutinized to a higher level than at any point in my prior 3+ decades in the industry."

Thanks for sharing your valuable insights, Jon. We always appreciate hearing our readers' thoughts—the Inside Lane team can be easily reached at editor@theinsidelane.co.

⬆️ $3.192

AVG. COST OF DIESEL PER GALLON IN U.S. AS OF 09/08, UP 0.015¢

Source: U.S. Energy Information Administration

ROADSIDE READS

A 5-point checklist. Feeling overwhelmed by tech implementation or AI adoption? This how-to guide breaks down the steps to successfully adopt new tech, including checklists you can follow.

What the data shows. When English enforcement as an OOS violation took effect, many analysts feared a drop in capacity. But this LinkedIn post reveals a different reality.

Rate update. A trucking founder and consultant shares the latest impact of tariffs on freight rates across the country.

Wake-up call. A snapshot in time from a day in the life of a trucking business owner. It's often a 24/7 job. Do you relate to this video?

INDUSTRY VOICES

The hardest decision: double down or shut it down

Trucking, no doubt, can be a difficult business. And sometimes fleet owners are faced with the toughest decision of their career: Is it time to ride out the storm, or call it quits?

Adam Wingfield, founder and managing director of Innovative Logistics Group, lays out five warning signs that a trucking business is in trouble, along with the steps fleet leaders can take.

“The best leaders know when to pause, pivot, or shut it down with grace,” he writes.

Why this matters: Sometimes self-awareness is the best business strategy. It’s important for trucking owners to distinguish whether their issues are simply an effect of the current market or a sign of broader structural problems and act accordingly.

Get more details at FreightWaves.

FAST LANE

ROLL BACK: Trump plans to pull back Biden's independent contractor rules

OFF THE LIST: FMCSA revokes registered status for 3 ELDs

COURT DOCS: Trucking co. in Florida crash issued subpoenas

ORDER UP: Mack Trucks takes customer orders for Anthem model

PRIME PICK: FedEx selected as primary parcel carrier for Best Buy

CRACK DOWN: Nashville council member proposes truck parking restrictions

SEEN & HEARD

"Every single dollar and every single hour of regulatory compliance is dragging on their bottom line."

- Cary Davis, CEO, American Association of Port Authorities

For small mom-and-pop trucking companies, there's a lot to manage, and compliance doesn't need to be a complicating factor. Davis talks about the work AAPA is doing to ease regulatory burdens for small motor carriers and drayage fleets, plus what tariffs mean for the future of the ports and trucking industries. Check out his interview on the "Truck N' Hustle" podcast here.

ROAD REPORT

Logistics shows a disconnect between priorities and realities

Professionals in the logistics and trucking industry continue to rank talent and workforce shortages among their top challenges. But what are companies doing to remedy the issue? Turns out, maybe not as much as they should. A new study found that just over one-third of companies have a dedicated learning and development function to help grow and retain their talent and more than half acknowledge that limited career paths at their organizations lead to retention problems.

Why this matters: While workforce problems are well-documented, the solutions are seemingly being ignored. Fleets that implement even small programs that recognize and reward their talent may be in a better position than their peers, many of whom say that workforce is an urgent issue but haven’t put in the systems or structures to fix it. (Logistics Management)

CONNECTED FLEET

AI freight startup raises millions of dollars

Augment, a freight-focused startup that uses AI to automate repetitive tasks, raised a whopping $85 million in a Series A funding round. The company’s AI can review pricing bids, maximize trailer space and collect invoices for timely billing, among other tasks.

Why this matters: This funding round is a sign that investors and tech companies see the massive potential that AI can have on the trucking industry and supply chain. With more and more repetitive tasks getting automated, fleet leaders are gaining back time to focus on relationship management and growing their business. (TechCrunch)