Unless the Louisiana Legislature acts soon, trucking operators in the state will find themselves becoming extinct.
Over the past decade, industry costs have spiraled upwards dramatically, largely fueled by exploding liability costs. The average size of jury verdicts increased nearly 1,000 percent from 2010 to 2018, rising from $2.3 million to $22.3 million. Worse, runaway juries are stretching the bounds of liability, with the most notorious case being a 2014 incident where a passenger vehicle crossing the median and striking a truck, killing a child in the vehicle, yet the family successfully sued the trucking company and won a $90 million judgment, now on appeal. Read more...