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Managing general agent Greenwich Transportation Underwriters Inc. launched a commercial auto policy Tuesday targeting various classes of trucks.
The coverage, which provides $1 million in primary coverage, is backed by Hudson Insurance Group, a U.S. insurance unit of Fairfax Financial Holdings Ltd.
Coverage includes auto liability, auto physical damage, general liability and motor truck cargo, Brentwood, Tennessee-based GTU said in a statement, and is offered to fleets with one to 100 power units – or truck tractors.
Target classes include traditional trucking operations of dry van, flatbed, intermodal and refrigerated trucking firms, as well as various other commercial auto classes, such as agricultural vehicles, cement trucks, dump trucks, heavy equipment haulers and nonhazardous liquid bulk haulers, the statement said.
Coverage is offered in Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia.
The commercial auto sector continued to weigh on the profitability of U.S. property/casualty insurers during 2016 and will likely see continued rate increases, according to a report from Fitch Ratings Inc. released Thursday.