Multiline regional market Grange Insurance looks to increase commercial auto written premiums by capitalizing on the attractive coverage aspects of AutoAccel.
PRODUCT: Commercial AutoAccel®
COMPANY: Grange (admitted)
BEST RATING: A
AVAILABILITY: Grange sells commercial auto policies exclusively through its network of 3,700 appointed independent agents. The insurer accepts books of business as well as individual submissions. For a possible appointment, contact Doug Sharp, executive vice president of sales and state management, by telephone at 800-422-0550, ext. 2480.
FOCUS: Multiline regional market Grange Insurance looks to increase commercial auto written premiums by capitalizing on what it considers to be attractive coverage aspects of AutoAccel. Underwriters call attention to Auto Accel’s per-accident limits of $250,000 for both motor truck cargo and on-hook towing protection, as well as the company’s garagekeepers endorsement for the commercial auto policy, with limits as high as $250,000 (in conjunction with on-hook coverage). If all goes according to plan in 2014, Grange plans to write as much as $50 million in commercial auto premiums, Sharp says. Sharp points out that producers can access rates, pricing and quotes online at the carrier's password-protected website, and the company's web system connects with many agency management systems.
UNDERWRITING: Grange sells commercial auto coverage on a monoline basis, but the carrier’s book of business in this line consists of 85% stand-alone and 15% packaged accounts. Monoline policies feature comp/collision, bodily injury/property damage, medical payments up to $10,000 and on-hook coverage. Insureds pay extra for uninsured/underinsured coverage. Producers can access “drive other car” liability coverage. Bobtail-deadhead liability coverage is also available. Combined single limits can go as high as $1 million. Commercial auto underwriters avoid business involving residential garbage haulers, ambulances, public livery, taxis and limousines.
MINIMUM PREMIUM: None.
TARGET: Underwriters focus on small- to mid-sized business owners whose operations include pickup trucks, utility vans, dump trucks and tow trucks, sand and gravel haulers, delivery vans, new business ventures and drivers with imperfect motor vehicle records. They can serve local- to mid-range trucking risks.
COVERAGE TERRITORY: GA, IL, IN, KY, MI, MN, OH, PA, SC, TN, VA and WI.
CONTACT: Scott Van Woerkom, commercial lines product manager; 671 South High Street, Columbus, OH, 43206; 800-422-0550, ext. 2390.
Ron Lent is an IA contributor.
