McGriff offering excess auto cover for freight brokers

McGriff said Wednesday it has introduced on-demand excess auto liability coverage for freight brokers.

TripExcess is a per shipment excess liability product that allows shippers and others to maintain a required $2 million auto liability limit, the broker, a unit of Charlotte, North Carolina-based Truist Insurance Holdings Inc., said in a statement. Carriers can use it to contract loads that may be outside of their existing liability coverage, McGriff said.

McGriff executive vice president Bret McGinnis said in the statement, “Traditionally, insurance has been purchased through annual contracts, but with servicing now tighter than ever, the trucking industry has become more and more transactional,” and TripExcess addresses this, he said.