A recent study by the ATA found a staggering 62% of trucking companies experience delays exceeding 30 days in resolving claims through standard insurance carriers. That translates to an average loss of $15,000 per day due to operational disruptions and equipment downtime. Feeling like you have little control over the process? You're not alone.
But one of the biggest frustrations trucking company owners are feeling is the lack of claims data. A recent Institute of Risk Management (IRM) survey found a concerning 71% of risk managers in the transportation industry reported receiving limited or no access to detailed claims data from their standard insurance providers. Without this data, you lack the ability identify trends and implement effective loss prevention strategies.
Captives Offer a Solution:
By joining a member-owned group captive, you unlock a powerful set of claims management advantages that allow you to unlock your business’ greatest potential.
Faster Resolution: Captive members get access to a more streamlined and personalized claims approach, leading to quicker settlements and less disruption.
Direct Influence: You have a greater say in how claims are handled, potentially reducing costs, and minimizing frivolous lawsuits.
Actionable Insights: Members receive detailed data on your specific claims experience. This empowers you to identify trends, develop targeted loss prevention programs, and ultimately influence future premiums.
But not all captives are alike. At Cottingham & Butler, we've championed trucking captive programs for over 35 years, helping the best trucking companies mitigate risk, efficiently manage claims when they happen and ultimately lower their costs.
Let Captives unlock your business’ greatest potential.
Don't let the standard market dictate your claims experience. Let us help guide you towards finding the right solution for you, that empowers you with control, transparency, and potential significant cost savings.