By Samantha Wright
Years ago, in the excess commercial auto sector, it was not so uncommon to see some really interesting claims come across one’s desk, where a trucker was “doing things he shouldn’t be doing,” then got back on the road and caused a fatal accident.
With truck drivers under increasing electronic surveillance (or in-vehicle telematics, as this kind of technology is called) that doesn’t happen so much anymore.
“Now you can track through GPS where the trucker is, and there are certain systems to track hard braking and over-acceleration,” said Matt Domitrovich, Vice President - Broker at Worldwide Facilities, LLC, who specializes in excess auto, with a niche in the excess transportation business. “It’s really unbelievable what these trucking companies are able to monitor, if they have the money to do it, technology-wise. They literally can know almost everything going on with that vehicle.”
Trucking companies also know more about their drivers and their driving habits than ever before, and that trend is only going to continue to evolve, as technology allows it to do so. Which will eventually benefit them in the underwriting process.
“Tracking your safety protocols and drivers, and especially the hours of service, that’s a big issue,” he said. “If you can get those scores down through technology that will really help the smaller guy and mid-sized trucking company.”
Electronic logs, or e-logs, and drive cams are also becoming more and more common in the commercial trucking sector, and will hopefully improve safer scores, compliance and accountability going into the future, Domitrovich said.
Thanks to all of this technology, underwriters in both primary and excess know more about the truckers they insure than they ever have before. “It does make it challenging if you have an insured with some bad history, to place higher excess limits,” Domitrovich said.
It’s these kinds of challenges that make the excess commercial auto sector such an invigorating place to be.
