Attento adds inflation endorsement coverage for U.S. trucking
Reprints
Attento Underwriting Agency Ltd. said Monday it has launched an inflation endorsement coverage for the U.S. trucking market.
The coverage is designed to respond to rising vehicle values as supply chain issues have left many vehicle owners with a financial shortfall in the event of a total loss.
Under the policy, claims payouts are no longer capped to the original insured value, regardless of changes to the value of the vehicle.
Inflation protection is factored into the premium charged, and revalued at six months, so that vehicle owners receive the actual cash value of the vehicle at the time of loss, the London-based specialty underwriting agency said.
