Providing Fleet Companies with Alternative Solutions to the Volatile Insurance Marketplace
Today’s transportation companies, particularly those with fleets between 25-100 trucks are faced with a myriad of challenges from increasing litigation to volatility in insurance pricing and controlling loss costs. These industry dynamics and the accelerated adoption of technology in the business models of transportation companies increase their exposure to certain risks including:
- Cyber Attacks
- Driver Shortages
- Nuclear Verdicts
- New Technologies
- Government Regulation
Transportation companies can reduce their total cost of risk, and avoid the pressures of a cyclical traditional marketplace by joining a group captive to meet their primary casualty insurance needs.
Marsh’s Fleet Solutions Insurance, Ltd. (Fleet Solutions) is a group captive created for transportation companies. Coverage includes workers’ compensation, general liability, automobile, and excess auto liability insurance. Additionally, Fleet Solutions works with motor carriers to design and package independent contractor insurance programs. Group captive membership is limited to best-in-class companies that are accustomed to strict underwriting and conservative loss projections, aggressive claims handling, and a significant focus on loss control. Marsh works closely with members to improve their loss control efforts - the key to bringing down insurance costs.
Marsh is dedicated to educating transportation companies about the various tools and solutions available to help them make informed choices for when it comes to selecting the appropriate risk transfer strategy.