Page 29 - Georgia Forestry - Spring 2017
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Insurance for Log Trucks and Loggers' Access to Credit
Insurance rates for log trucks have been unreasonably hiked for the past several years to levels that are creating serious financial headwinds for the timber supply chain. GFA has received consis- tent reports of haulers parking, selling, or transferring their trucks to other uses.
In addition, due to a restructuring ofthebankingindustry,severalsmall businesses have experienced issues
in obtaining loans to maintain or grow their businesses. The logging industry has been especially impacted due to the structure of the businesses — particularly the prevalence of short- term contracts and in assessing credit risk — and their rural locations.
HOW WE ARE WORKING FOR YOU
The GFF Center for Forest Policy Studies will be working with independent researchers to determine the scope and effect of higher insurance rates on the log trucking industry. This research will be focused on informing legislative action in the future.
GFA supports the passage of legislation at the federal level to increase the current 12.25 percent cap on federal credit union assets available to small business to 27.5 percent.
The Georgia Forestry Association works every day on issues such
as these to ensure the long-term vitality of our working forests. GFA’s advocacy efforts are
guided by its core principles in supporting private property rights, encouraging sensible taxes and regulation and promoting access to healthy markets.
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