We help trucking, public livery, emergency medical transport companies, hazmat haulers and other high exposure business types find Commercial Auto Insurance.
State Commercial Automobile Insurance Plans (CAIP’S) are currently found in 43 states and the District of Columbia, and are/was/is created or supported by the state and governed one or more boards representing insurance agents, the insurance commissioners office as well as commercial insurance companies licensed in the state. You have to be denied coverage elsewhere to be eligible for these stat mandated plans.
When business owners are unable to obtain commercial auto insurance for their business in the normal or preferred marketplace, they submit an application to the assigned risk CAIP producers to help them find coverage.
STATE CAIP’S Assigned risk policies, if available usually are much more restricted in the coverage they offer and have lower limits than preferred or voluntary market policies. In addition, the total overall cost for assigned risk CAIP policies usually are significantly higher, although not always and sometimes is the only way to stay in business while insuring high-risk drivers.
Get help for your company with a nonstandard risk, transportation insurance quote starting right now.
Other options may exist that one of our Certified Commercial Auto Insurance Producers may have available which will be explained by a licensed agent.
There are two basic types of reinsurance pools. In the first, an individual member company underwrites the risks and issues the policy to the policyholder. The member then automatically reinsures the risk with the pool in accordance with the pooling agreement.
In the second type, the pool functions as a general reinsurer, underwriting reinsurance policies for primary companies regardless of whether they are members of the pool.
Examples of reinsurance pools include the Registered Mail Insurance Association, which covers currency, securities and other valuables transported by registered and first-class mail, and shippers of property transported by armored cars; and the Excess Bond Reinsurance Association, which offers fidelity coverage (protection against employee fraud) to commercial banks.