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INSURANCE IS NOT SIMPLE DUE TO MANY VARIABLE FACTORS AND HIDDEN PITFALLS.

FREQUENTLY ASKED QUESTIONS

Why do some Freight Brokers dislike Lloyd’s Policy?

Generally, you can find coverage in the Lloyd’s marketplace even for difficult risks.  The drawback to Lloyd’s policies are its sub-limits and exclusions. They also have strict interpretation of their coverage forms in the event of claims.  Lloyd’s is non-admitted in California so they may not be subject to all of the insurance laws and regulations of the state. 

What is the Risk Retention Group (RRG)

A Risk Retention Group is a corporation or limited liability association formed under the laws of any state for the primary purpose of assuming liability exposures on behalf of its members. Policyholders are also its owners.  RRG’s are not rated by AM Best, and state insurance insolvency guarantee funds are not available for policyholders.  

How do I find a good and trust worthy broker?

Don’t trust anyone yet, anyone will pitch in good words for themselves. Do your own research and check them out with Department of Insurance website and other sources.

Why do we need the General Liability Coverage?

Actions of a driver while on the premises of others (loading docks, truck stops, motels, etc.); erroneous delivery of products;  your own premise liability.