Great American Insurance Group Launches Captive Option for Motor Carriers with Independent Contractor Fleets
CINCINNATI -- April 18, 2017 -- Great American Insurance Group’s Trucking Division is pleased to announce that Great American Advantage Captive℠ is now available to motor carriers with independent contractor fleets.
This new product offers motor carriers member-owned group captive or single parent captive opportunities that feature flexibility in risk-sharing structure, low cost entry and the ability to share in underwriting profits. Motor carriers with large independent contractor fleets have access to a full suite of coverages from Great American Insurance Group including non-trucking liability, physical damage, occupational accident, contingent liability and workers’ compensation.
“We’re delighted to offer this new product to motor carriers across the country,” said Randal Smith, Divisional Senior Vice President of Great American’s Trucking Division. “By participating, they have the opportunity to earn both underwriting profit and investment income, while protecting their independent contractors through a comprehensive insurance program.”
Great American Advantage Captive is ideal for motor carriers with 50 or more independent contractor units that have an appetite for risk, are financially strong, and prioritize safety and successful claims management. According to Smith, “the product is well suited for best-in-class independent contractor fleets that enjoy a loss experience better than the industry average, and desire to capitalize on their commitment to safety and overall success.”
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 100 years (most recent rating evaluation of “A+” (Superior) affirmed May 12, 2016). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the D.C. The Great American Insurance Group eagle logo and the wordmarks Great American® and Great American Insurance Group® are registered service marks of Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202.
Great American Insurance Group
Diane P. Weidner, 513-369-5713