This is a new effective 6-1 and well suited for transportation companies (private and public fleets) with 300 or more power units.
- KEY HIGHLIGHTS
- + AVAILABLE IN 28 STATES
+ LIMITS – $1,000,000 OR LIGHTER
+ STRUCTURE – DEDUCTIBLES FROM $50,000
+ CARRIER – A.M.BEST RATING OF “A” XII - CONTINUING PROGRAM FOR MID-SIZE FLEETS
+ FLEET SIZE: 50 -300 units
+ STRUCTURE: Guaranteed cost
+ A.M.BEST RATING OF “A” XII - NEW PROGRAM FOR SMALL FLEETS
+ Fleet size – 1 – 25 units
+ Fleet size – 25 – 50 units
+ Available in 48 states - NEW EXCESS CAPTIVE LIABILITY PROGRAM
+ UP TO 45% RETURN PREMIUM
+ LIMITS: Up to $10 million excess of primary or excess of $5 million.
ALSO AVAILABLE
+ CARGO – any size fleet – multiple deductibles available
+ PHYSICAL DAMAGE – standalone – any size – multiple deductibles and profit-sharing
+ EXCESS LIABILITY
EXCESS TRUCKING LIABILITY SPECIALTY CAPTIVE SOLUTION
UNDERWRITING INFORMATION
One benefit of a captive over traditional insurance is that if funds are not needed to pay claims, then those funds are considered underwriting profit, which can be distributed to the captive owner.
The two types of claims considered are the claims of the insured and the claims of the other insureds in the reinsurance risk pool. In this structure, the underwriting profits are estimated to get up to 45% of the total annual premium, depending on the actual claims experience.
Because of the potential for liability claims, the underwriting profits will be calculate 3 years after each policy expires. After claims reserves are factored in, the balance of the surplus could be taken as a dividend. If those reserves are ultimately not needed for the claims, those reserves would also be available for dividend. The Captive Specialty Solution reserves the right to determine the amount of available surplus and timing for distribution, and all distributions are subject to regulatory approval.
ALTAMONT SPECIALTY AUTO INSURANCE
Altamont specializes in offering products that solve the more challenging placement
issues. We do hard to place risks. Coverage can consist of the following:
+ Commercial Auto Liability
+ Stand-alone Hired and Non-owned
+. Physical Damage
+ Garage Keepers Liability
+ Large Deductible Programs Available
Targeted Classes
+ Ambulances
+ Retirement Homes & Senior Centers
+ Hospital & Health Facilities
+ Driving Schools
+ Security Guards
+ Funeral Operators
+ Large Sales Fleets
+ Landscapers
+ Farming and Agriculture Risks
+ Contractors
+ Couriers
+ Box Trucks
UNDESIRABLE CLASSES
+ Taxis
+ Busses/Public Livery
+ Uber/Lyft Exposures
+ Trucking For Hire
+ Dump Trucks
+ Ready Mix & Sand and Gravel
+ Towing
+ Waste Haulers