US-based Alliant Insurance Services has launched an excess insurance programme for the trucking industry.
Focused on middle market fleet operators, the new offering is designed to return excess premium for safe driving.
Alliant said the excess programme will cater to the needs of fleets that have more than 50 power units and include primary limits of $1m or $2m, with deductibles up to $250,000.
These placements will be available exclusively through Alliant Transportation.
The system uses data from fleets’ electronic logging devices (ELDs) to determine safe driving behaviour based on actual driving.
Alliant aids transportation clients in placing underlying primary policies in addition to developing the trucking excess programme to lower the cost of excess coverage.
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Alliant Transportation senior vice-president Mark Epperson said: “Nuclear verdicts and other industry forces have driven up the cost of insurance for all trucking companies. Many fleets investing in technology and safety are being adversely impacted.
“This excess product, exclusively from Alliant, allows trucking companies to protect themselves and earn a premium dividend through safe driving behaviours.”
Separately, Alliant announced that it has appointed Morgan Jensen as vice-president of its Alliant Americas business to expand its presence in the Midwest region.
With more than 20 years of experience, Jensen will offer specialised risk management and property and casualty (P&C) insurance solutions to a wide range of regional clients.
Alliant executive vice-president and senior managing director Bob Bennetsen said: “Morgan will play a key role in expanding our presence in the region by providing best-in-class service while helping us find new growth opportunities.
“His broad-based expertise and long-standing success as a strategic risk advisor will serve as a powerful addition to our growing team in St Louis.”
In May 2023, Alliant acquired oil and gas industry-focused P&C insurance company McAnally Wilkins.