Steering the Future of Transportation in 2025

Construction Transportation Construct a resilient future using a strong risk As the industry charts a new course, technology can management approach as a blueprint for success. help steer clear of obstacles. Risk & Insurance | Employee Benefits | Retirement & Private Wealth Risk & Insurance | Employee Benefits | Retirement & Private Wealth

What to Expect in 2025 What to Expect in 2025 Adic to consed qui volorio voluptatus est, int, id mo iuntusa ndent. While not new, “nearshoring” will transform the supply chain in North Et quis aut dolor aut apicidemquis eum solenti con pores sumquas America and open opportunities for the U.S. transportation industry. pedionsequia doleste veliquae et aliquis de sit laut quia dolorunt, But other significant challenges — like changing independent contractor conemol orruptatem et, occuptamus repelignam, omnis de in cust regulations, the ongoing driver shortage and sustainability costs — could vellam volupitia non corerro bla ditest que elicilisto quis maxim make for a bumpy road in 2025. Companies that embrace data analytics and nonecto eossitiures nobit, simet ullab incium, ulla volest ofÏctur? technology to drive their business strategy and operations forward will be better positioned to navigate the industry’s twists and turns. Profitability 1 vellam volupitia non corerro bla ditest que vellam volupitia non corerro bla ditest que bla ditest que vellam bla ditest que vellam The U.S. trucking industry transported 11.46 billion tons of freight in 2022, representing Vitality 2 vellam volupitia non corerro bla ditest que vellam volupitia non 72.6% corerro bla ditest que bla ditest que vellam bla ditest que vellam 1 of the domestic tonnage shipped. Resiliency 3 vellam volupitia non corerro bla ditest que vellam volupitia non 1. American Trucking Association, “Economics and Industry Data,” Accessed Aug. 22, 2024. corerro bla ditest que bla ditest que vellam bla ditest que vellam Sustainability 4 vellam volupitia non corerro bla ditest que vellam volupitia non corerro bla ditest que bla ditest que vellam bla ditest que vellam 22

PrProfitabilityofitability Sendant vImproved naolorvigaerunt autation quibeaquam, optur?on risky roads can help Menitae mo il inisensure profitabilitytiunt. volentem. Slowing inflation, lower gas prices and rising demand for transportation services are fueling modest growth in Bus doloresed qui ut omniae volor resequi cuptate the transportation sector after several years of economic mporerr ovidus et quam nonsequ odistemque endebisimus challenges. The industry remains cautiously optimistic inctem quate cum ad ut quid magniendae optasi dolest, as companies must navigate high operational and labor vel et laut occuste mpossimincta dolectem es nullisi 2 costs. nimenda atem comnis sequatiae mosam aspisquam According to the HUB International 2025 Outlook fugiaecus doluptia cus doluptatem. Udit laborit eum a sita 3 Executive Survey, there is room for both optimism and qui volupti orectemolore maxime sitia quid magnia denihil concern about future profits. 52% of transportation ma volestet hilliquo conet veroritis eum di velendi accupta industry respondents indicated they’re highly confident quam dolupta tionest, od ut maion exceper ciendi ofÏci about performance and profitability in 2025. Yet these reritas nihicit, quam, vellabores evelit, num cum, ullacit same leaders cited the following as most likely to adversely iume nossi dici dolum ut lata cor aut eius dolorae. Itas is not an option. Instead, fleet operators need to rely on Unt, voluptat. Harioremodit quat listisim fugit et pro impact profits: government regulatory changes, increased moditi consernam lautati nctur? insurance analytics tools, which can pinpoint their greatest tenecae vent id el idebitiorero magnis sit, seque nos expenses and geopolitical risks. Case Study areas of risk and advise on the level of coverage needed. Deligento etur re, ut que esed mo eos volore, omnis qui magnim es modigni hiliqui cus, nes audis et rem dolorro Record high input costs in 2023 are Some of those increased expenses come in the form of consed maximil ipicaborem si omnis alic tem sam qui ommolupta sum eum ea quunt voluptatae esti conecte The ongoing push to reduce the transportation industry's simus dolupta tiisti dolorepudita delibus mint litatur, rising insurance costs. 29% of the companies surveyed expected to continue through 2024, ducit parunt. carbon footprint is also demanding significant investment acknowledged economic challenges and inflation have vero blam sit, optatem ut elitis ipsunt ut quatem harum affecting all agribusiness, not just farms. Ga. Vid uta duntiis sa volores cienis doluptio que maion by transportation companies. While costly up front, significantly impacted their ability to secure ample doluptae inihicabor sequi venestetur a volupta voluptusa reri berchictatis quia ipsum deliquatur mincte necabores this investment can lead to cost savings later on from insurance coverage, and these challenges are likely to cuscia volorro doluptatur mod ex estem ut mo tem ius eius voloruntor reperion porpore cuptatur ame se cus improved efÏciency, lower fuel costs and more last-mile continue into 2025. accum is cus, ofÏciatio te denis sinciet ut odi bercipsam exero vollaccati reius, voloreris ut doluptaero to ius plam delivery opportunities. Companies that provide last- mile delivery services particularly need to demonstrate Commercial auto insurance is one of the most significant Et im haris serferum eatur, to et quibus iniendus eaque fugit volorehendis sa es nihitat empedit voluptur, te sim sustainability when bidding for new business. Partnering operational costs facing freight operators, with commercial nobissequae litaeri voloremod etur as non rerum fugiasp aut vel iuntibusda dunt, andundam dollabo reptatur mi, with an insurance broker who can analyze their telematics auto losses continuing to be a problem for insurers, who erferciis dias sequi nonecab imus aut quo dolupti conecum qui nihitiuntem fuga. Ehendiandit que diae. data and identify fuel costs and opportunities for have responded with higher rates or by exiting the market busandae sam, non cus. Ut aut endit eium, sin rehentorias earitatior sequodiore altogether. conservation is key to achieving a competitive advantage. peliquae maximenduci ditat volectur? In fact, the commercial auto segment recorded a 9% 1. Nam et eum vendit lacesse non con nobisque cum facimus et Lupta que doluptus aliquiae non rem explitia velliamusam increase in average premiums in Q2 of 2024, the highest maion cusam et dunt omnist quiae omnihitem. evendaest, estotae volupta tendem aut que minulle 2. American Transportation Research Institute, “Industry Costs 2. Nam et eum vendit lacesse non con nobisque cum facimus et Case Study 4 Increased More than 6 Percent During Freight Recession,” June 25, increase across all property/casualty lines of business. nihilliqui doluptatiae parumqui quodictem voluptae videl maion cusam et dunt omnist quiae omnihitem. 2024. Transportation companies should expect additional maximil luptassit ea sequasi optio occatur, ut la nos dolore 3. Nam et eum vendit lacesse non con nobisque cum facimus et 3. HUB’s Outlook Executive Survey polled 900 C-Suite and VP-level Record high input costs in 2023 are expected to continue through 2024, affecting all maion cusam et dunt omnist quiae omnihitem. premium increases through at least the beginning of 2025 executives on the issues facing them on profitability, employee sandis earum necest vel milicim intorehenis nonsequo agribusiness, not just farms. vitality and organizational resilience. as more carriers exit the market or reduce their liability beatem facerfe rferes eos magnien ienesequi id quat 4. The Council of Insurance Agents & Brokers (CIAB), “Commercial limits, particularly for excess coverage. quibea cum quatia con rem eos earibus il magnaturibus Property/Casualty Market Index Q2/2024,” August 2024. seque ne non plibus, ullupidus eaquo to qui dolorep 74% of respondents to the HUB survey indicate they don’t eratur? have enough insurance to protect against risks that could hurt profits. However, cutting coverage to reduce costs 33

VVitalityitality Sendant vAlternative benefitsolorerunt auta quibeaquam, optur?options can drive Menitae mo il inisrecruiting, retention andtiunt vemploolentem.yee engagement. Bus dolorMaintaining a sesed qui ut omniae vtrong transportaolor rtion wesequi cuptaorkforce remains te mpora critical iserr ovidus et quam nonsequ odissue for the industry. There wteremque endebisimus e over 3 million inctunfilled truck drivem quate cum ad ut quid magniendae optasi doleser positions worldwide in 2023, and drivt, er vshortages arel et laut oce ecusxpectte mposed tsimincta dolecto worsen in the cem es nullisi oming years.5 nimenda atem comnis sequatiae mosam aspisquam Providing comprehensive benefits solutions can differentiate fugiaecus doluptia cus doluptatem. Udit laborit eum a sita employers in recruiting and retention. The massive qui volupti orectemolore maxime sitia quid magnia denihil acceleration in the use of data and analytics to manage ma volestet hilliquo conet veroritis eum di velendi accupta costs and develop personalized benefits to retain drivers quam dolupta tionest, od ut maion exceper ciendi ofÏci is emerging as a way to stand out from the competition. reritas nihicit, quam, vellabores evelit, num cum, ullacit According to the HUB Survey, 64% of transportation iume nossi dici dolum ut lata cor aut eius dolorae. Itas Nearly 1 million truck drivers are classified as independent companies say benefits analytics are significantly-to- Unt, voluptat. Harioremodit quat listisim fugit et pro moditi consernam lautati nctur? contractors according to the Bureau of Labor Statistics extremely important in formulating their benefits strategy. tenecae vent id el idebitiorero magnis sit, seque nos 6 Online benefits programs designed for those (BLS). Clinical informatics can play a vital role in enabling magnim es modigni hiliqui cus, nes audis et rem dolorro Deligento etur re, ut que esed mo eos volore, omnis qui “workers” can help companies attract and retain them. companies to rethink their benefits strategy by predicting consed maximil ipicaborem si omnis alic tem sam qui ommolupta sum eum ea quunt voluptatae esti conecte Contractors can sign up for benefits via an online future health plan costs based on employee data. simus dolupta tiisti dolorepudita delibus mint litatur, ducit parunt. portal and pay for their coverage directly or have it vero blam sit, optatem ut elitis ipsunt ut quatem harum Improving driver productivity, health and wellbeing are Ga. Vid uta duntiis sa volores cienis doluptio que maion deducted from their earnings, which helps employers doluptae inihicabor sequi venestetur a volupta voluptusa ongoing top priorities for transportation companies, but reri berchictatis quia ipsum deliquatur mincte necabores avoid employee misclassification violations and improve cuscia volorro doluptatur mod ex estem ut mo tem ius rising health insurance costs can stifle efforts to modernize eius voloruntor reperion porpore cuptatur ame se cus retention. accum is cus, ofÏciatio te denis sinciet ut odi bercipsam benefits. Companies with as few as 50 employees can now exero vollaccati reius, voloreris ut doluptaero to ius plam explore alternatives to traditional medical plans with their Et im haris serferum eatur, to et quibus iniendus eaque fugit volorehendis sa es nihitat empedit voluptur, te sim nobissequae litaeri voloremod etur as non rerum fugiasp broker, such as health captives, which can offer a broader 5. International Road Transport Union (IRU), “Global driver shortages: aut vel iuntibusda dunt, andundam dollabo reptatur mi, 2023 year in review,” December 21, 2023. range of coverage options at lower costs and with minimal erferciis dias sequi nonecab imus aut quo dolupti conecum qui nihitiuntem fuga. Ehendiandit que diae. 6. Bureau of Transportation Statistics, “Counting the Transportation disruption. busandae sam, non cus. Ut aut endit eium, sin rehentorias earitatior sequodiore Workforce: Nearly 1 Million Self-Employed,” July 1, 2024. peliquae maximenduci ditat volectur? When it comes to retirement benefits, 43% of transportation companies surveyed by HUB indicated that they intend 1. Nam et eum vendit lacesse non con nobisque cum facimus et Lupta que doluptus aliquiae non rem explitia velliamusam to request additional support from their plan providers maion cusam et dunt omnist quiae omnihitem. evendaest, estotae volupta tendem aut que minulle to help them boost retirement plan participation to help 2. Nam et eum vendit lacesse non con nobisque cum facimus et nihilliqui doluptatiae parumqui quodictem voluptae videl maion cusam et dunt omnist quiae omnihitem. improve overall employee satisfaction and financial wellness. maximil luptassit ea sequasi optio occatur, ut la nos dolore 3. Nam et eum vendit lacesse non con nobisque cum facimus et Companies who invest in educating their employees on maion cusam et dunt omnist quiae omnihitem. sandis earum necest vel milicim intorehenis nonsequo the importance of financial health and provide access to beatem facerfe rferes eos magnien ienesequi id quat financial wellbeing platforms like HUB FinPath will reap quibea cum quatia con rem eos earibus il magnaturibus rewards in recruitment and retention. seque ne non plibus, ullupidus eaquo to qui dolorep eratur? 44

Resiliency Trekking through evolving regulations will require adaptability and tech tools. Flexibility and adaptability will be key for transportation companies to stay resilient in 2025, as they navigate major Case Study changes to state and federal independent contractor regulations. By analyzing the telematics and claims data Historically, the trucking industry has relied heavily on of a charter bus client who wanted to better independent contractors to transport goods, with more understand their costs, HUB was able to than 350,000 drivers currently working as independent identify 4 key routes that generated 70% of owners and operators according to the Federal Motor claims and only 3% of profits. HUB advised 7 Carrier Safety Administration (FMCSA). These numbers the client to remove these routes, which vastly differ from the BLS numbers due to tracking and resulted in the company reducing their losses classification methods. Regardless, a 2024 policy change from the U.S. Department of Labor reclassifies many of by 18% and lowering insurance costs by 22%. 8 these independent contractors as employees. Trucking companies could face substantially higher costs if required to transition their current contractors to Transportation companies need an experienced broker employees or fines if they don’t, while many independent to help them stay in compliance with ever-changing owners and operators may decide to leave the industry regulations and ensure they have the right coverage 9 rather than lose their autonomy. for current or emerging liabilities. Together with a best- To continue working with independent contractors, in-class broker who has access to cutting-edge tools companies will need to restructure their business model or and deep carrier relationships, leveraging data from switch to contract carriers. Both actions have significant technology tools such as telematics and GPS tracking legal, insurance and risk management implications. can help companies develop effective risk management strategies that will help them avoid regulatory headaches, At the same time, transportation businesses must also nuclear verdicts, rising insurance rates and other threats to prepare for additional regulations aimed at improving the their long-term resiliency. industry’s long-term sustainability. The Environmental Protection Agency (EPA) announced stricter emissions standards in 2024 for new heavy-duty transport vehicles 7. American Trucking Associations, “ATA Expresses Strong Support built between 2027 and 2032, which is likely to involve for Kiley-Cassidy Resolution to Protect Independent Contractors,” some integration of hybrid, battery-electric or hydrogen- March 6, 2024. 10 8. Barron’s, “Labor Department Rule on Independent Contractors electric trucks. Comes Under Legal Fire,” March 7, 2024. In 2025, the FMCSA may introduce several rule changes 9. FreightWaves, “Labor, climate costs loom large for trucking in 2024,” Dec. 28, 2023. for the trucking industry, including limits on large truck 10. Commercial Carrier Journal, “EPA announces new strict emissions speeds, new regulations for electronic logging devices rule for heavy trucks,” March 29, 2024. (ELDs) and requirements related to emergency braking 11. FreightWaves, “FMCSA delays speed limiter rule to May 2025,” July 8, 2024. 11 systems. 5

Nearshoring Nearshoring boom fuels transport demand in North America. As the U.S. looks to reduce trade costs and its reliance on imports from Asia, manufacturers opting to “nearshore” Case Study operations closer to home are creating huge growth opportunities for the transportation industry. Using telematics data that analyzes driver Nearshoring, the relocation of manufacturing or behavior and tracks moving violations, HUB production from distant regions closer to a manufacturer’s was able to demonstrate that international home country, can help companies reduce operational drivers from Mexico with a B1 driver’s costs, improve supply chain efÏciency and lower risks that license are safe drivers, resulting in reduced 12 come from outsourcing production offshore. insurance costs. With its proximity to the U.S. and participation in North American trade agreements, Mexico has been the biggest beneficiary. The value of Mexican goods imported into the U.S. rose to more than $475 billion in 2023, ofÏcially To compete in this new marketplace, transportation surpassing the value of China’s imports for the first time companies need to understand the exposures and legal since 2002. Meanwhile, the value of Chinese imports structure of cross-border operations and work with a 13 specialist who can help them secure the right insurance dropped 20% to $427 billion between 2022 and 2023. coverage, avoid coverage gaps and handle claims in And new investments in Mexico related to nearshoring different countries. 14 Nearshoring are expected to reach $46 billion by 2028. to Mexico has increased demand for trucking companies to transport goods across the border to the U.S. Cross- 12. Association for Advancing Automation, “Reshoring and border trucking activity between the U.S and Mexico has Nearshoring Trends and How Advances in the Automation Industry 15 Make North America Competitive,” July 3, 2024. risen more than 20% annually since 2020. 13. AP News, “Mexico overtakes China as the leading source of goods Despite the potential for trucking companies, nearshoring imported by US,” February 7, 2024. 14. Morgan Stanley, “Mexico Poised to Ride Nearshoring Wave,” June isn’t without its risks. Different regulatory, customs and 21, 2023. immigration, international licensing requirements and 15. Inc.com, “4 Ways Nearshoring Can Benefit Your Business,” June cargo and driver security challenges create new, often 29, 2024. unexpected exposures. A trucking company or driver’s commercial auto insurance policy may also not cover transport activities outside of the U.S. 6

Navigating Your Next Steps Navigating Your Next Steps HUB construction insurance, risk management and employee benefits HUB transportation insurance, risk management and employee benefits specialists will work with you to develop a tailored strategy that will protect specialists will work with you to develop a tailored strategy that will protect the bottom line, support your workforce and build resiliency for 2025. Here the bottom line, support your workforce and build resiliency for 2025. Here are some initial considerations: are some initial considerations: Making risk management a pillar of your organization’s culture Companies that share their data and analytics with their broker Develop a can help identify exposures and develop response plans in case through programs like HUB Drive Online will reap benefits — not Share your of any type of incident, whether that is a weather-related event, 1 comprehensive only will they have additional information to mitigate risk, but 1 data. a threat of physical safety or a cyberattack. Make sure your risk plan. they can demonstrate a strong safety performance to carriers broker understands how to approach risk and can identify gaps that can result in better terms and conditions. in insurance that could disrupt your daily operations. To compete for a shrinking pool of skilled labor, personalized benefits Create a Personalized benefits tailored to the needs of your drivers can help based on HUB Workforce Persona Analysis and data analytics can personalized increase recruiting and retention. Find ways to connect drivers to Listen to your help your company differentiate itself from the competition. Creating 2 benefits benefits beyond health insurance, like providing access to personal 2 drivers. a quality employee experience (QEX) will boost engagement, improve strategy. insurance solutions, and create rewards programs to incentivize good recruitment and retention and promote worker wellbeing driving behavior. Embracing cameras and telematics — and making the most Safety is already the focal point of your operation, but with Remain of your data and analytics to reduce risk — will improve an influx of new and less-experienced workers, injury risks focused on your company’s resiliency for the long haul. And integrating 3 Invest in increase. Work with a risk professional to review your safety 3 workplace new technologies with traditional claims and first notice of technology. program at least annually and address any issues. safety. loss system data will reap even greater rewards, increasing roadside safety and organizational efÏciency. Consistent communication with your broker will help identify Stay in contact with your broker and let them know about and mitigate issues in advance of renewal and position Be transparent changes to the business to eliminate surprises at renewal. Be transparent the organization in the best light. Review exposures and with your Review exposures and insurance needs at least 90 days prior 4 with your insurance needs at least 90 days prior to policy renewal to 4 broker. to policy renewal to allow your broker to find the optimal broker. allow your broker to find the optimal mix of coverage for your coverages for your organization. organization’s needs. 7 7

[IndusTransportatry] Industion Ratry Rate Guide te Guide — U— U.S..S. HUB International’s rate guidance comprises an analysis of proprietary national survey data and HUB International’s rate guidance comprises an analysis of proprietary national survey data and interviews with HUB commercial insurance brokers and risk services consultants who specialize in the interviews with HUB commercial insurance brokers and risk services consultants who specialize in the transportation industry. construction industry. On average, rates for middle- to upper-middle-market companies are experiencing rate increases for On average, we are experiencing modest rate increases for nearly all coverages as carriers need nearly all coverages as carriers need additional premium to support increased losses and expenses. additional premium to support increased losses and expenses. Below are projections of rate increases Below are projections of rate increases that we anticipate in 2025. Discuss your business exposures with that we anticipate in 2025. It’s important to discuss your business’ exposure with your insurance broker your insurance broker and understand what to expect well in advance of your next renewal. and understand what to expect well in advance of your next renewal. 2025 Coverage 2024 Rate Guide Insights Coverage Transportation Insights Rate Guide Empor am res denietur ra veriae voloreceriam aut ad ut asperch iciunt, quiae nonseque plab ipsam se este int etur sum voluptatemos sit eliquibeaquo eum exceremped etur sum Commercial Markets continue to actively write in this sector, but obtaining inverio nsequib usandit qui conecto cus rem quatur sectiatem Lorem ipsum  -0% to  +0% coverage remains pricey. For new ventures, pricing starts at Automobile: +8% to 15% illant evel minture qui res perfereped qui corehen istiati squibea One to five vehicles $15,000 or more per truck. For physical damage coverage, carriers tescipsunti occus re es dolorer ferspietur, sunda volecer namende will likely require a higher deductible, a rate increase — or both. sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. Distracted driving and social inflation remain the top reasons Empor am res denietur ra veriae voloreceriam aut ad ut Commercial for claims activity. Expect more flexibility with loss-sensitive or asperch iciunt, quiae nonseque plab ipsam se este int etur Automobile: Six or Flat to +15% deductible programs; some carriers may offer more attractive sum voluptatemos sit eliquibeaquo eum exceremped etur sum more vehicles terms in a multiline primary casualty program that includes inverio nsequib usandit qui conecto cus rem quatur sectiatem Lorem ipsum  -0% to  +0% workers' compensation. For larger fleets, umbrella carriers will illant evel minture qui res perfereped qui corehen istiati squibea typically require a primary limit of at least $2 million. tescipsunti occus re es dolorer ferspietur, sunda volecer namende sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui Rate increases persist to counterbalance rising costs associated comnisquas restrumet. Physical Damage +10% to 15% with labor, new replacement vehicles and high-tech replacement parts. Empor am res denietur ra veriae voloreceriam aut ad ut asperch iciunt, quiae nonseque plab ipsam se este int etur sum voluptatemos sit eliquibeaquo eum exceremped etur sum The uptick in cargo theft claims continues to negatively affect Motor Truck Cargo +5% to 15% inverio nsequib usandit qui conecto cus rem quatur sectiatem Lorem ipsum  -0% to  +0% rates. illant evel minture qui res perfereped qui corehen istiati squibea tescipsunti occus re es dolorer ferspietur, sunda volecer namende sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. Warehouse Legal Rates remain stable as claims frequency declines, largely driven Liability Flat to +5% by the increased use of anti-theft precautions, such as advanced camera technology and enhanced fraud prevention strategies. Empor am res denietur ra veriae voloreceriam aut ad ut asperch iciunt, quiae nonseque plab ipsam se este int etur sum voluptatemos sit eliquibeaquo eum exceremped etur sum Property-casualty insurance is expected to be profitable, so the inverio nsequib usandit qui conecto cus rem quatur sectiatem Lorem ipsum  -0% to  +0% overall trend in GL is stable. Carrier positions vary; results may be General Liability Flat to +10% illant evel minture qui res perfereped qui corehen istiati squibea different due to claims activity or program design, but most clients tescipsunti occus re es dolorer ferspietur, sunda volecer namende will see modest rate increases. sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. Workers’ Workers’ compensation remains highly profitable, but workplace Compensation -3% to +3% violence and classification of workers as either employees or Empor am res denietur ra veriae voloreceriam aut ad ut independent contractors are possible factors for rate changes. asperch iciunt, quiae nonseque plab ipsam se este int etur sum voluptatemos sit eliquibeaquo eum exceremped etur sum Excess coverage limits continue to shrink, with carriers increasing Lorem ipsum  -0% to  +0% inverio nsequib usandit qui conecto cus rem quatur sectiatem Umbrella & the minimum premium per million. Expect more carriers to build Flat to +10% illant evel minture qui res perfereped qui corehen istiati squibea a tower and need time to market and secure coverage, given their Excess Liability tescipsunti occus re es dolorer ferspietur, sunda volecer namende reluctance to provide high-excess limits. sandae. Ecus maion conseni taquiae rferro doluptiat volorem qui comnisquas restrumet. 88

Transportation Rate Guide — U.S. 2025 Coverage Transportation Insights Rate Guide Cyber rates continue to fall. Though significant breaches/outages Cyber -10% to Flat with service providers (i.e., Change Healthcare, Crowdstrike) haven’t led to rate hikes yet, harder market conditions may occur during the first half of 2025. NOTE: Rate is typically defined as the amount of money necessary to cover losses and expenses while providing an insurance company with a profit for a unit of exposure. Exposure refers to a business’ or individual’s susceptibility to various daily risks. Carriers evaluate the level of risk an insured faces in calculating insurance premiums. 9

HUB Transportation When you partner with us, you’re at the center of a vast network of experts who will help you reach your goals. For more information on how to manage your insurance costs, reduce your risk and take care of your employees, talk to a HUB transportation insurance specialist. $1.84B in commercial insurance premium brokered by HUB 57,000 insurance policies managed 24,000 transportation clients Stay up to date Subscribe to receive risk and insurance insights and event invitations throughout 2025. Subscribe hubinternational.com