Built For the Road

When we founded MapleTech in 2001, we already were insurance guys. We’d worked for an MGU, designing, developing, and administering specialized commercial insurance programs for domestic and international trading partners. But then we had the opportunity to work with a company that writes motor carrier insurance. So, we got to work.

Motor carrier policies were introduced by Insurance Services Office, Inc. (ISO) in 1993 to address the needs of the motor carrier industry. It covers all types of motor carriers, including for-hire, private, or a combination of both. Coverages include auto liability, trailer interchange, and auto physical damage, with other coverages available by endorsement.

Motor carriers can meet their financial responsibility requirements by aggregating insurance in layers; that is, they can purchase insurance in layers, with each layer comprising a separate policy and endorsement. The first layer is referred to as primary insurance. Each additional layer is referred to as excess insurance.

When we built Aspire to accommodate the needs of motor carrier insurers, we knew those insurers had to:

    • Abide by legal and regulatory requirements mandated by the Federal Motor Carrier Safety Administration (FMCSA), specifying operating authority, type of cargo, and vehicle type.
    • Carry minimum public-liability coverage for bodily injuries, property damage, or environmental restoration caused by negligence.
    • Carry coverages like Primary Auto Liability Insurance, Motor Truck Cargo Insurance, Physical Damage Insurance, Medical Payments Insurance, Uninsured/Underinsured Motorist Insurance, and Contingent or Non-Trucking Liability Insurance.
    • Provide an MCS-90 endorsement, stipulating you agree to pay, within the liability limits, any final judgment recovered against the policyholder for injury or death to members of the public resulting from the negligent operation, maintenance, or use of certain motor vehicles. The endorsement also ensures you can’t cancel the policy without notice and that the coverage applies even if the carrier is bankrupt or insolvent.
    • Meet filing requirements that include making sure insurance and legal process agent documents are filed before the FMCSA will issue operating authority.
    • Avoid incurring penalties for not complying with the rules regarding motor-carrier financial responsibility for up to $11,000 for each violation.

After making sure Aspire did all that, we were ready. Are you?

If you’re a motor carrier insurer and you’re ready to streamline your operations, enhance your efficiency, reduce your costs, and improve your profitability, we’d like to talk with you.

Please click here to get in touch.