RPS launches new products for transportation risks
RPS launches new products for transportation risks | Insurance Business America
Motor & Fleet
RPS launches new products for transportation risks
The suite of products is available online
Motor & Fleet
By
Ryan Smith
E&S wholesale broker and managing general agency Risk Placement Services (RPS) has announced the launch of three new transportation products for risks with one to 10 power units.
General Liability for Truckers
Motor Truck Cargo for Truckers
Auto Physical Damage for truckers
The suite of products, which RPS said was the first of its kind, is available online, making it possible for independent agents to provide a combination of coverages quickly. The products are available to quote, bind and issue in only two minutes through RPS’s Small Business Platform. The company said it plans to continue adding product enhancements to the suite.
“In a commercial insurance marketplace that is plagued by long applications and disparate portals, our new digital offering stands out as a simple and comprehensive solution agents can rely on for their insureds,” said Mark Gallagher, national transportation practice leader for RPS.
General Liability for Truckers covers injuries or property damage not caused by the truck operator, which RPS said is typically not covered by other insurance plans. It also provides coverage against the cost of lawsuits.
Motor Truck Cargo for Truckers fills gaps in other cargo coverage, including paid interest, coverage extensions or payments in addition to policy limits.
Auto Physical Damage for Truckers is offered on a stated amount basis with deductibles of up to $5,000. It has a maximum single-vehicle value of $300,000, RPS said.
The product suite provides coverage from an AM Best A-rated carrier and is available in all states except Alaska, Hawaii and Massachusetts, RPS said.
“At RPS, we strive to provide creative solutions to persistent industry challenges that help set our retailer partners apart from their competition,” Gallagher said. “This suite of digital transportation products certainly puts us a few miles ahead.”
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