What's Happening?
Reliable Transportation Association (RTA) has introduced a new Physical Damage insurance program for commercial auto, backed by Lloyd’s of London. This program is available in several states, including Pennsylvania, Ohio, New Jersey, Illinois, California, and Texas, with plans to expand to Georgia, Florida, and more by the end of 2025. The program offers coverage for owner-operators and fleets against various risks such as collisions, theft, and weather-related events. It is designed for safety-conscious operations, rewarding those with clean driving records and stable operations with competitive pricing. The program utilizes a digital platform for quick eligibility checks and quotes, enhancing efficiency and transparency.
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Why It's Important?
The launch of this insurance program represents a significant advancement in commercial auto insurance, providing tailored coverage that rewards safe driving practices. By leveraging Lloyd’s of London’s financial strength, RTA offers reliable insurance solutions that can help transportation companies manage risks effectively. This initiative supports the growth of the transportation industry by providing accessible and affordable insurance options, which can lead to increased operational stability and reduced financial burdens for fleet operators.
What's Next?
As the program expands to additional states, RTA will continue to refine its offerings based on feedback from agents and clients. The focus will remain on enhancing the digital platform to ensure seamless interactions and maintaining competitive pricing models. Agents already appointed with STAR Mutual RRG can immediately offer this coverage, reinforcing RTA’s commitment to efficient service delivery. Monitoring the program’s impact on the transportation industry will be crucial in assessing its success and identifying areas for further improvement.
