ATLANTA--(BUSINESS WIRE)--Transportation Insurance Experts “TIE”, a leading, national managing general agency in the commercial insurance industry, (www.TIExperts.com) proudly announces the phased launch of a proprietary commercial auto liability package insurance program designed for small to mid-sized trucking risks. Developed in collaboration with Cimarron Insurance Company, a distinguished name in the insurance sector (www.cimarronins.com), this new program brings much needed new capacity options to the transportation industry for greater market selection.
Paul Halter, CEO at Cimarron Insurance Company, shares his thoughts on the collaboration: "Cimarron Insurance Company is proud to join forces with Transportation Insurance Experts in launching this exclusive commercial auto liability insurance program. By combining our expertise and resources, we can offer a comprehensive solution that not only meets but exceeds the expectations of trucking businesses. This program reflects our dedication to delivering top-tier service and protection."
Andrew Kiernan, President at Transportation Insurance Experts, expresses enthusiasm about the new program: "We are proud to bring new admitted, "A" rated capacity to the trucking insurance marketplace to expand both coverage options and pricing competition for agents and insureds to their small and mid-sized fleets."
Key features of the exclusive commercial auto liability insurance program include:
- Admitted Basis: Cimarron’s rates and forms will be filed in phases with the Departments of Insurance in 34 States so that policyholders have the most highly regulated coverage status and access to State Guaranty Funds.
- Competitive Rates, Less Taxes: Transportation Insurance Experts, in partnership with Cimarron Insurance Company, is committed to offering three (3) tiers of highly competitive rates for standard, preferred, non-standard risk levels. Insureds don’t have to pay excess & surplus lines taxes.
- Tailored Coverage: The package program is custom-designed to cater to only the trucking industry.
- “A” Rated Paper: To ensure the highest standards of financial stability and reliability, Cimarron is rated “A”, “Exceptional” by Demotech, a leading financial analysis firm in the insurance industry since 1985.
The Demotech Advantage
- Credibility and Trustworthiness: Demotech has built a solid reputation over 35 years for accurate and unbiased financial assessments of insurer’s ability to pay claims. The Barth Klein Study found and validated that carriers rated “A” or better by Demotech have lower average cumulative impairment rates, hence equivalence to A. M. Best ratings.
- Focus on Niche and Regional Insurers: Demotech’s specialization in regional carriers and niche insurance providers offers insights into insurers that might otherwise be overlooked, expanding the pool of viable insurance options and thereby encouraging price competition in the marketplace. These carriers make up 55% of the entire market.
- Regulatory & Industry Acceptance: Demotech ratings are accepted by state regulators, legislators, commissioners, insurance professionals, corporate risk managers, national freight brokers banks, lenders, and government agencies such as Fannie Mae and Freddie Mac, as well as the Securities and Exchange Commission (“SEC”). Demotech-rated insurers are deemed reliable by various stakeholders in the logistics chain like JB Hunt, TQL and many others.
Joseph Petrelli, President, Demotech states that, “We are committed to supporting a healthy trucking industry by identifying financially stable carriers. Demotech also acts to proactively identify and address challenging insurance industry issues like litigation financing and billboard marketing that ultimately result in higher premiums for trucker policyholders.”
About Cimarron Insurance Company
Cimarron Insurance Company, established in 1947 and licensed in 34 states, is a respected name in the insurance sector, known for its reliability and commitment to delivering quality coverage. With a historical focus on understanding the unique workers compensation needs of insureds, Cimarron Insurance Company has built a reputation for providing comprehensive and flexible insurance solutions. For more information, visit: www.CimarronIns.com
About Demotech
Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of independent, regional and specialty insurers. Demotech was the first to review and rate these insurers. Demotech’s consistently increasing list of accreditations and acceptances, including the US Securities and Exchange Commission as a national recognized statistical rating organization in the classification of insurance companies, has resulted in the rating and reviewing of 450 insurers operating in the US. For more information, visit https://www.demotech.com/about/
About Transportation Insurance Experts
“TIE”, established in 2017, is a trucking focused commercial insurance MGA based in Atlanta, GA. TIE writes commercial auto liability, motor truck cargo, auto physical damage on fleets of 1-51 power units of for-hire truckers in 40+/- States through a network of 130 partner retail agencies located across the USA. As a tool for our talented underwriting team, TIE has a fast, custom-built, best-in-class, agent-facing portal named “VQE” for the full policy life cycle: submit, rate, quote, bind, policy issuance, endorse, cancel, renew, report, etc. For more information, visit: www.TIExperts.com
Contact: To learn more about this new, proprietary, commercial auto liability insurance program and their “VQE” system that easily generates quotes in minutes, contact Sandy Scardina, SVP of TIE, at 800.232.4308 or SScardina@TIExperts.com https://www.linkedin.com/in/sandy-scardina-06287535/ to apply to become an appointed agency.
