Commercial Auto trends are consistently inconsistent.
The commercial auto market is a bit all over the place right now as far as markets, rates, and profitability. There are fewer and fewer carriers that have an appetite for auto risks. There are also carriers that hop in and out of the sector as they see fit, which really throws the marketplace off.
According Fitch Ratings, Inc., “The commercial auto line continues to create a profit drag for U.S. property/casualty insurers”. Fitch also notes that “Unfavorable claims experience continues to trouble commercial auto insurers. Loss severity remains difficult to manage due to growing larger loss incidents and higher costs from claims litigation.”
Both of the reason s above are a leading cause of why placing your Commercial Auto risks is increasingly difficult.
SIU began underwriting long haul trucks over 50 years ago. Today, SIU’s Commercial Transportation department has grown to include almost all types of Commercial Automobile and Garage products. Either over the phone, or by online quick quote applications, the specialized underwriters in Commercial Transportation offers producers access to many “A” rated companies spanning coverage from a single unit to large fleets.
Southern Insurance Underwriters have markets with an appetite for commercial transportation risks, assuming the risk is a good one. “Good” is a well-maintained operation where management is aware of the basic hazards and loss exposures. Management strongly supports loss control and meeting safety standards, maintains good condition of facilities, and loss control policies and procedures with documentation.
Commercial Auto Coverages:
SIU has the following coverages available:
Auto liability, physical damage, motor truck cargo, bobtail liability, refrigeration breakdown, non fleet and fleet, and truckers general liability are readily available to be quoted.
For a listing of types of Commercial Auto, please click the link : https://site.siuins.com/commercial-transportation/commercial-auto/
To get a quote, you can go online to www.siuins.com