carriers. When the risk level becomes too high, carriers bring in reinsurers, and companies wind up with “ceded” policy rates, which are often thousands higher than standard policy rates. Digging out of a ceded insurance position can mean years in the penalty box. When companies get to this point, they’re either looking to hire a full-time risk management executive (with major costs for recruiting, salary, benefits), or they’re simply resigned to accepting insurance hikes. But there’s also a third option.
Partnership Paves the Way for Safety, Savings
Together with experienced fleet safety experts, C&S Insurance is perfecting a collaborative approach to transportation risk management. Part of what makes this new option unique is its scalability; insured clients can contract with safety consultants based on their budgets and operational needs. In the end, this approach takes companies
out of ceded policies, reduces roadway incidents, achieves regulatory compliance, and delivers major returns in the form of safer workplaces and employee satisfaction.
Putting Data in the Driver’s Seat Creating a custom set of fleet safety policies is job one. Our
consultants start the process by gathering company-specific data from a variety of sources: insurance loss runs, reportable injuries, roadside inspection reports and a Safety Measurement System report from the Federal Motor Carrier Safety Administration to see how a given continued on page 14
Monica, Thank you for your years of dedicated services at the ASM. Congratulations and wishing you the best for your retirement.
The Professional Contractor
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