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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Artex Launches Transportation Industry Rent-a-Captive Solution

Truck Unloading Gravel or Sand from Back
June 15, 2020

Artex is launching a rent-a-captive solution designed for the transportation industry. In a statement, Artex said Transportation Owners Protection Insurance Cell (TOPIC) will offer many of the advantages of captive ownership with the simplicity of renting.

Participating companies might realize such advantages as underwriting profit, in addition to unbundled claims handling, loss control, and claims advocacy services, Artex said. Available coverages include workers compensation, commercial auto, and general liability, with a minimum annual premium of $250,000 for all lines.

"The transportation industry is facing a number of challenges, ranging from restricted insurer capacity, expanded regulations, and driver shortages, to name just a few," Martin Hughes, executive vice president—underwriting at Artex, said in the statement. "Our clients are looking for expanded alternative risk options to service their insurance needs. TOPIC provides for the addition of a rent-a-captive solution, which, combined with other Artex products, further rounds out the range of solutions available to the transportation industry."

Artex said the rent-a-captive facility would be a good fit for best-in-class transportation companies looking to move to an alternative risk program. Dry van, refrigerated goods, grain and agricultural products, flatbed operations, and sand and gravel exposures are excellent candidates for TOPIC, the Artex statement said, while expressing a preference for employee drivers.

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