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…
Is Truck Rental Reimbursement Coverage Necessary in a Not-at-Fault Accident?
This is a question I hear frequently and one that doesn’t always have an obvious answer. Let’s take a look at a recent claim to highlight the nuances of this coverage. One of our Moving & Storage insureds was in a no-fault accident. They had not purchased any rental reimbursement, instead relying on the Uninsured…
Can you Call Yourself a Defensive Driver?
The largest liability facing the moving and storage industry is obviously motor vehicle accidents. When larger commercial vehicles are involved in accidents, the bodily injury and damage to personal property is three to four times more severe than accidents that involve private passenger vehicles. A company that takes the time to hire safe drivers and…
How an Underwriter Assesses a Moving Company’s Financial Stability
Have you ever wondered why insurance companies require an annual financial statement? What are they looking for and how does this information fit? The primary reasons that financials are an integral part of the underwriting process is to identify and red flag accounts with a poor financial outlook. Accounts with a poor financial outlook are…
Think Twice About PPT’s
Movers! Think twice before purchasing a private passenger vehicle in the company name. We think it is wonderful when an owner decides to purchase a vehicle for their significant other or family member as a surprise gift. We understand that there is a long held belief that there is a significant tax right-off when adding…