Settlement Carrier Program
What is Settlement Carrier?
- “Settlement” refers to the settlement deduct payment process
- Carrier meaning– Motor Carrier, Shipper (Manufacturer) or MC owned Freight Broker
Utilizes Owner Operators or Sub-Haulers and Settlement Deducting Insurance
The contract requires Primary Auto, rather than requiring Non-Trucking Liability
May also require Cargo, CGL, Phys Dam, and Occ/Acc - Sub-Hauler: A Small Fleet that operates under own Authority but generates approx. 75% of revenue from 1 “carrier” and joins their insurance program
Major Reasons for Conversion:
- Defense of Independent Contractor Misclassification
- Work Comp Audits
- Laying Off Large SIR/Deductible Working Layer
- Manage Underlying Risk
- Managing Increased Capacity
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Long Haul Truckers
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Couriers
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IC contractually responsible for MC large deductibles or SIR
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Last mile carriers delivering goods from stores to consumers
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Distributors carrying products to retail stores
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Auto Liability
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Commercial General Liability
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Motor Truck Cargo
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Physical Damage
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Occupational Accident
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Workers’ Compensation
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Competitive Pricing
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Tiered rating for risk and geography
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Even installments through settlement deductions, reported monthly on bordereaux
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“A” Rated Paper
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Expert Claims Service
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48 States
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Provides strong defense to IC classification challenges
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Insures the working layer (or deductible) under Motor Carrier’s insurance program
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Properly aligns insurance coverage with needs of Motor Carrier
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Guide to convert from ICOA to Broker model
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Loss Prevention and Consulting Services
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Full administration
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Avant Specialty Claims (ASC) quick and quiet claims service
Information provided on our website is intended as an overview for our products and programs. This website does not provide detailed information or interpretation of specific insurance contracts, policies and/or policy language, and is not designed to be a substitute for such information in terms of claims handling and/or settlement. For complete coverage information, please refer to the applicable specific policy in its entirety, including all applicable endorsements.