Artex adds rent-a-captive program for transportation industry
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Artex Risk Solutions Inc., a unit of Arthur J. Gallagher & Co., on Thursday said it has launched a rent-a-captive program for the transportation industry.
Transportation Owners Protection Insurance Cell, known as TOPIC, offers companies access to a captive without having to form an individual captive themselves.
The cell will be domiciled in Tennessee and part of Artex Insurance (Tennessee) PCCIC Inc., Artex’s rent-a-captive/protected cell captive insurer, a spokeswoman said via email.
Coverages include workers compensation, commercial auto and general liability, with a minimum annual premium of $250,000 for all lines, Artex said.
“The transportation industry is facing a number of challenges, ranging from restricted insurer capacity, expanded regulations and driver shortages to name just a few,” Martin Hughes, executive vice president-underwriting at Artex, said in the statement.
The program is suited to dry van, refrigerated goods, grain and agricultural products, flatbed operations, and sand and gravel exposures, Artex said.
Employee drivers are preferred, it said.
