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Steer clear of losses: Reducing your fleet’s total cost of risk

About this webinar

Would you like to lessen the impact of fleet accidents on your fleet operations?On June 25, 2025, Element Fleet Management and HUB International experts held an in-depth discussion about avoiding accidents and managing loss costs in our webinar, Steer clear of losses: Reducing your fleet’s total cost of risk.This presentation considers the full impact of accidents on an organization, and how fleets can best position themselves to reduce overall costs related to accidents and loss mitigation.

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Here are 3 key takeaways from this session:

From billion dollar losses driving up commercial auto insurance premiums, to labor shortages driving up labor rates for collision repairs, coupled with tariff impacts, and inflationary pressures, both self-insured and fully-insured fleets should anticipate significant increases in loss-related costs.

Technology is transforming fleet risk management

Innovations in IoT, vehicle safety technology, vehicle devices, and data integration are enabling fleets to collect more risk data and normalize it into actionable risk mitigation. Also, increased driver engagement and intervention tools assist drivers to self-improve and reduce their unsafe driving behaviors.

Risk mitigation options vary by cost-mitigation strategies

While self-insured and fully insured fleets both have a wide variety of risk mitigation strategies they can employ, effective strategies, such as driver behavior monitoring, may not be as easily deployed for companies with drivers on reimbursement.

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