The Central Analysis Bureau (CAB) plays a big role when motor carriers motion to insure their trucking operations. Specifically, CAB reports are used by insurers as verification tools during the underwriting process. The report aggregates data on a motor carrier’s safety statistics, finances, and more. Individual drivers may want to heed the status of the company’s CAB standing as well.
What Role Do Truckers Play in an Entity’s CAB Report?
A driver’s performance reflects directly on the overall motor carrier. Adherence to safety standards and performance quality are monitored by the Central Analysis Bureau. The sum of all drivers’ actions come together to establish a report that insurance companies will analyze to determine a motor carrier’s risk profile.
Why Should Truck Drivers be Concerned?
CAB reports are used by insurers when underwriting an insurance policy. Less-than-favorable statistics on the report will lead to increased insurance premiums. A truck driver who reflects poorly on the motor carrier could be considered a liability.
Drivers are the key assets for motor carriers in the transportation industry. These truckers should be aware of the impact they have on the company’s standing with the Central Analysis Bureau. Employees and business owners alike would benefit from further education on the involvement CAB has with the insurance industry.