Risk & Insurance
Filling Coverage Gaps and Lowering Premiums for a Trucking Company
The Client
A North Carolina-based trucking and transportation company that specializes in hauling produce to and from the West Coast.
The Challenge
The owner was generally satisfied with the incumbent agent and expressed hesitance in altering their existing plan. He did, however, have qualms with the insurance carrier’s claims-handling processes and the agent’s lack of communication and was willing to let us review his account. Our transportation experts, who specialize in the trucking industry, uncovered that his broker had failed to recognize and communicate several coverage issues: The company lacked sufficient coverage for driver error while hauling reefers (refrigerated containers) and freight-broker coverage for errors and omissions, GL, contingent AL, and WC.
The Solution
We procured the lowest pricing for our client and added coverage for driver error while hauling reefers. We also streamlined their processes by implementing technology that enables dispatchers to immediately generate and send proof-of-insurance certificates to the shipper organizing the load.
The Results
Even with additional coverage, their premiums went down by more than $40,000. Now they are working with a firm who specializes in their industry, their questions will be answered accurately, and they no longer need to worry about unnecessary risk due to gaps in coverage.