The trucking industry is a $2.2 trillion international economic powerhouse, and it is expected to grow to $3.4 trillion by 2030. However, in the year 2022 alone, 166,853 accidents were evident in large-truck operations that led to 72,137 injuries, 4,768 deaths, and an overall cost of the motor-vehicle crashes of more than 470 billion.
The economic consequences are really concerning. For instance, the average cost of accidents resulting in injuries is approximately $200,000, and fatal incidents exceed $3.6 million. Settlements generally range between $100,000 and $500,000, although in more severe instances, it may increase to $2,000,000 or even $10,000,000, particularly when there are numerous complicating factors.
