Artex Launches Transportation Group Captive Insurer

Artex Risk Solutions has established a new group captive tailored for the US transportation industry. The initiative aims to address insurance gaps and risks for transportation, trucking for hire, convenience store operators, and petroleum marketers amidst industry challenges. The group captive is a homogenous insurance company that will provide coverage for workers compensation, auto liability, and auto physical damage.

Primary service partners include Artex Risk Solutions as the captive consultant and manager, Midwest Employers Casualty/Carolina Casualty as the insurance provider, and Gallagher Bassett and Carolina Casualty for claims administration and loss control, with claims advocacy provided by Artex Risk Solutions.

"The US transportation industry has experienced pockets of reduced insurance and risk management options in recent years due to labor shortages, supply chain challenges, and a distressed insurance market," said Martin Hughes, executive vice president, specialty risk transfer, for Artex in North America. "The new group captive addresses a need for alternative risk solutions in the space."