Coverage Tip of the Month – Excess Insurance…Protect your assets!
It will not be news to anyone that the transportation industry is a target for lawsuits and that claims can reach astronomic levels. The $1M Auto Liability limit required for Non-Haz-Mat interstate authority is getting tested on a more frequent basis. Pair that with research released at a recent Heavy Duty Aftermarket Week in Las Vegas cited by TruckingInfo.com, it costs between $885,000 and $1.3 million for accidents that end in fatalities.
Do you have appropriate liability limits to protect your business?
National Risk addresses this issue by providing:
- An in-depth financial analysis to help our clients assess their insurance limit needs, which may result in the consideration of Excess insurance (over $1M in liability coverage)
- Access to various markets to secure Excess coverage for our clients; this is especially important considering Lexington (a major insurer) exited the transportation Excess market in 2016.
- Access to an exclusive insurer that:
- Writes up to $10M excess limits (in house)
- Writes all other trucking coverages (ONE INSURER)
- DOES NOT have a premium finance charge
Contact us to evaluate your liability limit needs and options