How truck safety systems impact your insurance costs
I’ll be honest: it’s not easy to get fleets to talk about their insurance costs, but who could blame them? Safety is paramount, but accidents happen and they’ve given rise to the so-(frighteningly)-called nuclear verdicts against commercial fleets. In fleets’ corner are the growing number of advanced driver assistance systems (ADAS) and in-cab camera technology
Hub International launches excess liability, umbrella insurance to protect from nuclear verdicts
Hub International Limited (HUB) has launched its HUB Drive Excess Liability Shield, an exclusive, affordable excess liability/umbrella insurance solution designed for transportation clients–from general freight, moving and storage, and last mile to auto/truck dealers, public auto and rail–to broaden coverage and protect them from potential major losses from nuclear verdicts. HUB Drive Excess Liability Shield
Koffie, Samsara partner for fleet safety, insurance
Koffie Labs, a digital insurer, has partnered with Samsara and will offer Samsara’s platform as the exclusive telematics system for its insured motor carriers. Koffie says it will provide affordable, instant and fully digital policies to motor carriers, using Samsara’s connected fleet technology to bring actionable data and insights into underwriting and loss control. Samsara
Volvo, Mack announce integrated insurance in some U.S. markets
Volvo Financial Services (VFS) and Mack Financial Services (MFS) is working with insurtech company Rein to pilot an integrated digital insurance offering. The service’s enhanced capabilities will soon allow Volvo Trucks North America and Mack Tucks customers to connect in real-time with insurance companies. “Through this offering, Volvo Trucks customers can easily access different coverage
Technology to mitigate skyrocketing insurance premiums
While the social and economic impacts of the pandemic have been front and center this year, insurance has remained a top concern among fleet leaders in 2020. In its annual report, the American Transportation Research Institute (ATRI) listed insurance cost and availability as the fifth most pressing issue facing trucking. In fact, ATRI’s annual Operational
Trucker Path, Cover Whale partner on insurance platform
Trucker Path has partnered with Cover Whale Insurance Solutions Inc., the provider of a new commercial truck insurance platform. “With Cover Whale’s technology-driven platform, we can provide insurance quotes to owner-operators in 24 hours or sooner and save customers an average of 15% on premiums,” said Steven Lopez, vice president of business development at Trucker
National Interstate Insurance customers now have access to 160 Driving Academy driver assessment system
National Interstate customers will have access to 160 Driving Academy’s driver recruitment, training and driver assessment capabilities.
CarrierHQ Portal launches action-based small fleet insurance through Aon
CarrierHQ and Aon plc have launched Aon’s action-based monthly motor carrier insurance program, available through CarrierHQ’s online small fleet portal.
Evolving technology and vehicle insurance
Companies that insure motor carriers, trucks and drivers are not all the same. Some sell through independent agents, others through their own sales staffs. Some specialize in commercial truck insurance, while others sell it as one of a secondary line of coverage. Some insurance companies specialize in specific niches within the motor-carrier industry, such as
EBE Technologies, TrueNorth Cos. create paperless insurance enrollment
EBE Technologies has partnered with TrueNorth Cos., a risk management solutions provider to the transportation industry, to create OverDrive. OverDrive is a paperless workflow-based insurance enrollment solution for motor carriers that utilize independent contractor owner/operators. OverDrive was designed to synchronize data in real time between the motor carrier, independent contractor owner/operators, TrueNorth and the issuing