Under what scenarios would the CAB report that a VIN is being used prior, during or after the coverage period by another entity?
If an owner-operator is hauling for the insured under the insured’s authority, is the inspection data going to be reflected on the insured’s CAB report or would it appear on the owner-operator’s CAB report as well, alongside any other firm he might haul for?
What underwriting actions are taken when CAB indicates that an insured/applicant shares a phone/fax number, e-mail address or physical address with multiple other entities?
What actions are taken if the CAB reports that the derived vehicle count is several units over what is present on the policy / Safer?
Understanding the underwriting mindset and addressing any anticipated concerns at the time of submission will ultimately change how that risk is being approached and will increase an agent’s likelihood of getting a prompt response from a company or underwriter. This can lead to a quick declination or can justify accepting the risk. The difference between a middling risk that gets held up for a week only to be declined due to an uncertainty in exposure and a written policy is in how it was initially presented to the company.
This article was authored by Liam Hutelmyer, an underwriter with AmWINS Transportation Underwriters and member of the firm’s transportation practice.
Legal Disclaimer. Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
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