Artex Risk Solutions, the Arthur J. Gallagher & Co-owned provider of re/insurance and alternative risk management solutions, is launching a new alternative risk program designed for the transportation industry.
TOPIC (Transportation Owners Protection Insurance Cell) is a rent-a-captive solution offering many of the advantages of captive ownership with the simplicity of renting.
Artex says dry van, refrigerated goods, grain and agricultural products, flatbed operations, and sand and gravel exposures are excellent candidates for TOPIC. Employee drivers are preferred.
Advantages include potential return of underwriting profit, as well as unbundled claims handling, loss control and claims advocacy services.
Coverages include workers compensation, commercial auto and general liability, with a minimum annual premium of $250,000 for all lines.
“The transportation industry is facing a number of challenges, ranging from restricted insurer capacity, expanded regulations and driver shortages, to name just a few,” explained Martin Hughes, Executive VP-Underwriting at Artex.
“Our clients are looking for expanded alternative risk options to service their insurance needs. TOPIC provides for the addition of a rent-a-captive solution, which combined with other Artex products, further rounds out the range of solutions available to the Transportation industry.”
