At tech/AI confab, C.H. Robinson tackles insurance and liability
It was a tech conference but C.H. Robinson’s legal battles were never too far away from the discussion. The post At tech/AI confab, C.H. Robinson tackles insurance and liability appeared first on FreightWaves .
C.H. Robinson, a logistics company, addressed insurance and liability issues at a technology conference. The company's CEO, Dave Bozeman, along with two colleagues, presented at the Citi’s Global TMT Conference in New York. The meeting came at a time when C.H. Robinson is awaiting a ruling on a $600+ million verdict against it for a fatal 2021 crash in Jackson, Mississippi.
The crash involved a truck owned by Lupus Superior, which had hired C.H. Robinson. The verdict found 45% of the blame on Gonzalez (the deceased driver), 45% on Lupus Superior, and 23% on C.H. Robinson. The company is awaiting a decision from Judge Dianne Jones on whether to affirm all or part of this verdict. C.H. Robinson CFO Damon Lee stated that the company is "in good shape" and expressed confidence that the final judgment from Judge Jones will be less severe than the initial jury verdict.
Lee also noted that the company expects insurance costs to increase by a "manageable number," which will likely be passed on to freight rates. The company's stock price has dropped significantly following the Lipe verdict, but Bozeman downplayed the impact of the Supreme Court's Montgomery decision and the company's efforts to lobby for clearer regulations in the brokerage industry.
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