Colonial Insurance Announces a New Truck Liability Market for Fleets from 10 to 200 Power Units
As a result of the constantly changing trucking insurance landscape, many insurance carriers are pulling out or restricting their scope to "super preferred" companies with excellent safety and claims history. Commercial trucking risks are being heavily scrutinized, from ISS scores and trends, to driver quality and turnaround.
According to FMCSA data, more than 50% of all trucking fleets have an ISS recommendation of "Inspect" or "Optional Inspect". Distressed trucking risks have a very hard time finding coverage at a competitive rate. Colonial's new market aims to "fill the void" between the super preferred, "plain vanilla" risks and trucking risks in various degrees of distress due to safety scores, losses, driver quality, or aging equipment.
Colonial's new market will write Primary Auto Liability on an admitted basis in 48 states with auto liability limits up to
The new program is open to well-managed trucking operations with 10 or more power units with a minimum of one year in business.
In addition to Primary Auto Liability, Colonial's new market will offer Trucking General Liability, Physical Damage and Motor Truck Cargo coverage, either as a package or as a stand-alone policy.
Colonial's fleet services include:
- Safety consulting through Colonial's carriers.
- Multiple reporting forms such as revenue, mileage, and unit reporting.
- A variety of deposit options and premium installment plans.
- Profit sharing physical damage policies
- Self-insured retention policies
- Comprehensive insurance packages including basic commercial auto coverages, in addition to employee practices liability, occupational accident, workers compensation, excess and umbrella coverages, and more…
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Web site: http://www.colonialtruckinginsurance.com
Read the full story at http://www.prweb.com/releases/2016/09/prweb13660953.htm
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