Ep2 Mark Tuchmann

Risky Business
Risky Business
Ep2 Mark Tuchmann

In this episode of the Risky Business Podcast, Scott Grandys interviews Mark Tuchmann, CEO of TIP National. As a managing general agency, TIPN provides differentiated insurance programs for the transportation industry.

They discuss the challenges and trends risks opportunities in the commercial trucking industry and insurance.

[00:21] Mark Tuchmann’s background and expertise

[03:27] Increased premiums and losses in the trucking industry

[14:32] “Underwriting happens after”

[21:30] Insurance is a partnership

[27:28] Trucking needs boundaries

[30:30] What Mark would do to change the industry

Insurance premiums are increasing due to rising interest rates, inflation, and fuel costs. Truckers may feel resentful of this change, this is partly because insurance agents aren’t properly educating and communicating how insurance actually works.

We need to teach drivers that insurance companies are not just there to take their hard earned money. They need to understand what factors are important to insurers and what they can do to ensure safety and minimize risk. In this way, insurance companies may be able to offer deductions. When it comes to underwriting, assessments need to happen before a policy is in place, not after. If the underwriting process comes last, this often leads to cancellation and increased rates.

When taken seriously, partnership with insurance companies leads to safer roads for all.