CLEVELAND, Ohio, Feb. 8, 2021 – AvatarFleet, the software provider that helps transportation companies fill empty seats, pass every audit, and save drivers’ lives will host two webinars, entitled How You Can Prevent a Nuclear Verdict, on March 24 and March 25 from 12 p.m. to 1 p.m. EST.
“Nuclear verdicts are on the rise and result in growing insurance premiums and bankruptcies for carriers,” said Scott Rea, President of AvatarFleet. “We’re bringing together a team of experts to help carriers minimize their risk of these multimillion dollar lawsuits and keep the plaintiff attorneys at bay.”
As a committed leader to making roads safer, AvatarFleet is proud to host the first-of-its-kind virtual events on warding off a nuclear verdict, which is a jury award where the penalty generally exceeds $1 million.
According to a 2020 study by the American Transportation Research Institute (ATRI), cases with awards over $1 million have increased dramatically over the last 15 years. The number of cases between 2006 and 2011 involving trucks with verdicts over $1 million increased by over 250 percent. From 2012 to 2019, the number of cases with verdicts over $1 million increased to 265 cases, an increase of 235 percent. The ATRI’s research is based on data collected from a sample of 600 cases between 2006 and 2019.
As one would suspect, commercial insurance premiums have also increased in line with the rate of litigation awards. In the last five years, insurance premiums increased annually between 35 and 40 percent for low-to-average-risk carriers. If a carrier’s score is less than ideal, some insurance companies might not even consider providing coverage.
“We’re here to solve the driver problem - Nuclear verdicts are one piece of the driver problem and are 100 percent avoidable. These webinars will help carriers stay on the roads and out of the courtrooms,” said Rea.
The virtual events will feature a group of professionals in the transportation, legal, and risk management industries, who will discuss the definition of a nuclear verdict, reptilian theory, best practices for the deposition chair, claims management, and policies and procedures for hiring and safety documentation.
There are two webinars for two audiences: Canadian and U.S. transportation firms.
The panel for the Canadian webinar on March 24 includes: Kim Richardson, President at TransRep; John Oldfield, Client Executive at NFP; Michael Thompson, CEO at ISB Global Services; Lisa Arseneau, Producer at Staebler Insurance; John Farquhar, Risk Solutions Analyst, Summit Risk Solutions; and Scott Rea, President at AvatarFleet.
The panel for the U.S. webinar on March 25 includes: Marc Blubaugh, Partner at Benesch, Friedlander, Coplan & Aronoff LLP; Timothy Brewster, Director, Loss Prevention & Recovery Unit at National Interstate Insurance Company; John Liberatore, President at Primacy Risk Services; Clay Merches, President at Leading Edge Consulting; Justin Reed, Strategic Alliances at HireRight; Irwin Shires, Vice President of Education and Engagement at Ohio Trucking Association; and Scott Rea, President at AvatarFleet.
Admission to both virtual events is complimentary, and online registration is available here.
AvatarFleet exists to solve your driver problem. Our innovative software and superior services is the only package that helps you achieve: Zero empty seats; Zero failed audits; and Zero preventable accidents. The A-Suite is the only software program that helps you manage driver Advertising, Recruiting, Compliance, Training and Retention in one place.