The trucking division of Great American Insurance Group has introduced a captive product offering motor carriers member-owned group captive or single captive opportunities.
Great American Advantage Captive is aimed at providing flexibility in the risk-sharing structure, as well as a low cost entry and the ability to share in underwriting profits.
The group provides motor carriers with large independent contract fleets access to coverages such as non-trucking liability, physical damage, occupational accident, contingent liability and workers’ compensation.
Great American suggests the product is ideal for motor carriers with 50 or more independent contractor units that have an appetite for risk, are financially strong, and prioritise safety and successful claims management.
“We’re delighted to offer this new product to motor carriers across the country,” said Randal Smith, divisional senior vice president of Great American’s trucking division. “By participating, they have the opportunity to earn both underwriting profit and investment income, while protecting their independent contractors through a comprehensive insurance programme.”
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Great American, Motor, Captives, North America