Trucking Industry Faces Rising Costs, Labor Shortages, and Insurance Challenges in 2026

As the trucking industry approaches 2026, it continues to encounter significant financial pressures including rising operational costs, labor shortages, and increased insurance premiums. The industry faces volatility due to uncertainties in tariff policies and declining shipping rates, which are particularly challenging for long-haul trucking operations. Excess liability insurance premiums have surged significantly due to escalating litigation and claims costs, though some relief may come from upcoming state legislation addressing these legal trends. To manage these challenges, trucking companies are advised to adopt a proactive risk management approach, including collaboration with experienced brokers to optimize commercial auto coverage and financial planning. Implementation of technologies such as telematics and the promotion of driver safety training and maintenance programs can reduce incidents and position fleets favorably with financial and shipping partners. Labor shortages remain acute, driven by an aging workforce and low entry rates among younger drivers. The current high turnover rates necessitate innovative retention and recruitment strategies that go beyond competitive pay and benefits. Emphasizing drivers' physical and mental well-being through access to healthcare resources and lifestyle benefits, as well as shorter route options to improve work-life balance, are emerging priorities. Cargo theft is escalating sharply, with increases driven in part by cybercriminal methods including AI-assisted rerouting and manipulation of FMCSA data. Many trucking companies report limited confidence in mitigating technology risks, underscoring the need to reassess insurance coverage and enhance cybersecurity protocols. Strengthening cyber hygiene, access controls, and incident response plans is increasingly critical for fleet risk management. Technology adoption is transitioning from optional to essential, as tools like telematics and dual-facing cameras provide vital data for performance monitoring, claims substantiation, and operational efficiency. Underwriters are increasingly factoring technology usage into insurance risk evaluations, creating an imperative for fleets to integrate these systems. Working closely with insurance brokers throughout the year—not just at renewal—is vital for adjusting to evolving risk landscapes and ensuring comprehensive coverage. Expert guidance from brokers specializing in transportation risks can help fleets navigate complex insurance markets and optimize their portfolios against emerging challenges in compliance, safety, and financial performance.