Cimarron Insurance and TIE Launch New Trucking Insurance Solution
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Introduction to a New Insurance Program for Trucking
Transportation Insurance Experts (TIE), a leading force in commercial insurance management, has recently partnered with Cimarron Insurance Company to unveil a groundbreaking commercial auto liability insurance program. This innovative solution is specifically designed to cater to the needs of small to mid-sized trucking fleets across the nation. As firms look to enhance their insurance options within the transportation domain, TIE aims to provide substantial resources and coverage alternatives.
Insights from Industry Leaders
Leadership Perspectives
Paul Halter, CEO of Cimarron Insurance Company, expressed excitement about this collaboration, stating, "This new program represents our commitment to offering trucking businesses a comprehensive insurance solution that not only aligns with regulatory requirements but also exceeds operational expectations." His sentiments underscore the importance of collaboration in achieving excellence in the insurance sector.
Meanwhile, Andrew Kiernan, President of TIE, highlighted the significance of this partnership, remarking, "With our new ‘A’ rated capacity, we’re introducing a competitive edge in the trucking insurance marketplace. Our goal is to provide agents with additional options and competitive pricing to benefit their clients. We believe this program will markedly disrupt traditional models within the industry."
Key Features of the New Program
The newly launched commercial auto liability insurance program comes with several advantageous features tailored for the trucking industry:
- Admitted Basis: Cimarron’s rates and forms will be filed in phases with insurance departments across 34 states. This provides policyholders with highly regulated coverage status and access to critical State Guaranty Funds.
- Competitive Rates, Less Taxes: TIE, in collaboration with Cimarron, plans to offer three distinct tiers of competitive rates across various risk levels ensuring customers avoid excess & surplus lines taxes.
- Tailored Coverage: The program is custom-built to accommodate the unique needs of the trucking sector, enhancing relevance and protecting clients effectively.
- “A” Rated Carrier: With a rating of “A” from Demotech, Cimarron Insurance Company assures clients of its financial stability and reliability in claim settlements.
The Demotech Impact
Building Trust in Insurance
Demotech, Inc. plays an essential role in this ecosystem, having established a reputation for reliable financial assessments of insurance companies. Their studies indicate that carriers rated “A” or better tend to possess lower impairment rates, reflective of robust operational health.
Their focus on niche and regional insurers brings an invaluable perspective to the table, ensuring that diverse options are available for agents and clients alike. This can encourage beneficial price competition within the insurance marketplace.
Understanding Your Choices
In today’s fast-evolving insurance landscape, understanding the options available to trucking businesses is crucial. Policyholders need access to stable and reputable carriers, and programs like the one introduced by TIE and Cimarron create an environment conducive to informed decisions.
About Cimarron Insurance Company
Founded in 1947, Cimarron Insurance Company has earned a reputation for its commitment to quality and reliability in the insurance industry. They are dedicated to understanding and addressing the specific needs of their clients, especially in the sphere of workers' compensation and commercial auto liability coverage.
About Transportation Insurance Experts
Established in 2017, Transportation Insurance Experts (TIE) has quickly positioned itself as a key player in providing commercial insurance solutions for the trucking sector. With a network of over 130 retail partners, they deliver tailored solutions to address the complexities of trucking insurance.
Contact Information
To learn more about this exciting new insurance offering and how it can benefit your trucking operations, reach out to Sandy Scardina, SVP of TIE, at 800.232.4308 for detailed insights and potential partnerships.
Frequently Asked Questions
What is the purpose of the new trucking insurance program?
The new program aims to provide tailored insurance solutions specifically for small to mid-sized trucking fleets, enhancing coverage options and competitive pricing.
Who are the key players involved in this program?
The program is a collaboration between Transportation Insurance Experts (TIE) and Cimarron Insurance Company, both reputable names within the insurance industry.
How does Demotech influence this insurance solution?
Demotech provides financial ratings that assure clients of the stability and reliability of the underwriting carriers involved in the program, ensuring client confidence.
What makes this program unique?
This program is specifically designed for the trucking industry, offering competitive rates, tailored coverage, and an “A” rated reputation for financial stability, which is a rarity in the industry.
How can agents benefit from this new insurance solution?
Agents will have access to enhanced coverage options and competitive pricing structures, effectively broadening their offerings to meet client needs in the trucking sector.
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