Trucking industry uptick bodes well for overall economy
By Wendy Cornett
Experience has taught the trucking insurance agents at Roemer Insurance that a surge of activity within the trucking industry can be a reliable indicator of overall economic improvement, explained Wellington F. “Rocky” Roemer III, president and CEO of Roemer Insurance.
“Our trucking clients haul the raw materials to the plants; they haul the finished goods to the warehouses; they haul the inventory to the distributors and the retailers; and our clients – pretty much across the board – are showing healthy increases, especially in the last several quarters,” Rocky explained. “Existing fleets are hauling more freight, and when we see more goods in transit, this translates into an expanding economy.”
Another encouraging trend is that fleets are adding independent contractors to keep up with increasing demand, Rocky pointed out.
“Many motor carriers, when confronted with an improving economy and freight piling up on loading docks, will add owner/operators to their fleets.”
Roemer Insurance, an 80-year-old family-operated insurance business, has been a purveyor of insurance to the trucking industry throughout its 80-year history.
“My grandfather, Wellington F. ‘Dud’ Roemer, the founder of Roemer Insurance, started his independent insurance agency with his very first client, which was a trucking company, and we’ve been writing trucking fleets ever since,” Rocky said.
Roemer Insurance provides coverage for trucking fleets in a multistate operating territory throughout the Midwest and Florida. It also operates a division dedicated solely to the insurance needs of owner/operators known as Insure My Rig, a recognized brand in the independent contractor niche. Insure My Rig acquires its customers primarily through the Internet and insures truckers in nearly 40 states. As an added resource for its clients, the firm produces The Roemer Report, an online digest that provides valuable management information for trucking executives.
To keep pace with the swell of business among its trucking clients, Roemer Insurance has grown as well. The company recently added three more full-time agents devoted to serving the insurance needs of America’s truckers.
“Across the board, top to bottom, our truckers are doing better, and when they’re doing better, I would say that means the overall economy is showing signs of improvement,” Rocky added.