If your insurance policy is coming up for renewal, it’s important to review your drivers’ scores to ensure you won’t be faced with significant premium increases. According to the Federal Motor Carrier Safety Administration, roadside inspections conducted by state and federal inspectors in 2016 revealed that nearly 5% of the commercial vehicle drivers had sufficient…
How Can the Transportation Industry Lower the Risk of Catalytic Converter Theft? Can this be Covered Under Inland Marine?
One of our broker partners asked this question for their Last Mile insured who had several catalytic converters stolen TWICE – on two separate occasions in less than 6 months! First, the coverage is not provided under Inland Marine as the vehicles are scheduled under the auto policy. Quite a bit of information follows and does assume…
What is the difference between an Excess and an Umbrella policy?
The common feature of Umbrella and Excess policies is that both provide increased limits over the underlying policy. In some cases an Umbrella policy may drop down and provide coverage where there is no coverage in place, usually subject to a Self-Insured Retention (SIR.) However, an Excess policy will only respond when an underlying policy responds. …
CAB Reports: What they mean to you and our underwriters at Policy Renewal
What is a CAB Report? The CAB Report® is the accepted transportation industry standard, offering the most advanced and comprehensive analysis available. CAB is an independent company that pulls data from FMCSA and other sources and provides a user-friendly layout, interactive capabilities and focus on highlighting relevant issues are critical to making informed decisions for your trucking company. …
Accident Procedure
When involved in an accident it is critical that the driver collect as much information as possible so investigation and claims handling, by both the company safety officer and insurance company claims adjusters, can take place in the most efficient manner possible. Accident Checklist
Accident Investigation / Claims Reporting
The best way to control long term claims costs is to establish and train employees on the proper method for accident investigation and reporting. Accident investigation and reporting are critical in reducing the costs of both workers’ compensation and vehicle accidents. A good report provides the claims adjusters with the all of the information needed…