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Cover Available For Trucks, Taxis, Limos

Cover Available For Trucks,Taxis, Limos With insurers seeking double-digit rate increases from their best commercial trucking and automobile clients, commercial lines agents say that those ...

By Mark E. Ruquet | Updated on September 02, 2001

Cover Available For Trucks,Taxis, Limos

With insurers seeking double-digit rate increases from their best commercial trucking and automobile clients, commercial lines agents say that those at the other end of the spectrum–who are seeking insurance with poor loss recordsare just happy to find coverage at any price.

Agents and brokers who deal in commercial trucking and livery coverage say many clients have seen increases that range from 10 to 20 percent for good risk clients. Still, even though quotes are harder to come by for some insureds, depending on the region, insurance coverage remains available, they say.

Trucking is always the first area “to get hard and hard fast, because carriers who dabble in transportation are the first to get out, when the market hardens,” observed Joel Cavaness, president of Risk Placement Services, Inc., a subsidiary of Arthur J. Gallagher & Co. headquartered in Itasca, Ill.

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