Loss control is a critical component of managing your insurance cost and running a successfully business, especially in the transportation industry. The total dollar amount of incurred losses for physical damage and the combined liability lines of business have continued to increase dramatically since COVID. What does that mean? The cost of truck repair…
The Intersection of AI & Fleet Management: Improving Claims Outcomes at Lightning Speed
That was fast! AI hasn’t wasted any time in transforming the fleet management industry. Not only is it more efficient and streamlined, AI is revolutionizing fleet safety with enhanced risk identification, monitoring, and mitigation in the transportation industry. AI-powered telematics can automatically detect, record, and alert fleet managers to unsafe driving behaviors including excessive speed,…
Underwriter’s Corner: Named Insureds Inconsistency
With 30 years of insuring Moving & Storage risks, we do see various trends that may appear minor, but actually have large implications down the road. One recent trend that we’d like to share with our insured clients and affiliated brokers is the matching of the ‘named insureds’ listed on the policy, compared to the ‘named…
What is the difference between an Umbrella and an Excess policy, and how do you complete a Certificate of Insurance?
Umbrella and Excess policies both provide increased limits over the underlying policy. In some instances an Umbrella policy may drop down and provide coverage where there is no coverage in place, usually subject to a Self-Insured Retention (SIR.) An Excess policy will only respond when an underlying policy responds. Examples of when you might see…
FAQs about the Consolidated Program with AmTrust
Since our announcement that we are consolidating our insurance program with AmTrust, we have received a number of common questions that I’d like to share for everyone’s benefit: Will you be sending non-renewal notices and when will they start? Yes, and the verbiage will be very clear that we are moving program partners. We will…
How Can Moving & Storage Operations Lower the Risk of Catalytic Converter Theft?
How Can Moving & Storage Operations Lower the Risk of Catalytic Converter Theft? Can this be Covered Under Inland Marine? One of our broker partners asked this question for their insured who had several catalytic converters stolen TWICE – on two separate occasions in less than 6 months! First, the coverage is not provided under…