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The California Trucking Association has partnered with C3 Risk and Insurance Services to offer insurance products to trucking companies through a new, for-profit insurance agency.
The Trucking Proud Insurance Agency will sell workers’ compensation, commercial auto liability and employee benefits insurance to trucking companies across the United States, a press release said. The agency will generate revenue for the association, which will provide “a significant reinvestment” into key motor carrier advocacy issues, including CARB, truck parking and workforce development, among others.
This endeavor generally isn’t unique for associations, Jamie Reid, managing director of the Trucking Proud Insurance Agency, told Transport Topics. “Several associations are turning to insurance as a unique way to generate revenue while lowering cost to members,” Reid said in the email. “This is because association members are often ‘best in class’ from a risk perspective and thus unique programs can be generated for this group that outperforms the market.”
Trucking Proud will offer competitively priced insurance products to California Trucking Association members and nonmembers, the release said. The agency is serving “many top-tier insurance carriers across the country,” Reid said, but noted that Trucking Proud currently isn’t disclosing details on its partnerships.
C3 Risk & Insurance Services is a privately held insurance brokerage in San Diego, the firm’s website says.
“Motor carriers and fleets are subject to extreme insurance cost fluctuations due to adverse operators who taint the market which can lead to drastic price increases with limited time to plan even for those with excellent claim history,” Reid said of the commercial auto liability insurance market, noting Trucking Proud offers a captive insurance product to help eliminate those fluctuations for carriers that qualify. “This program will be available for the best carriers that achieve operational excellence by combining sound management, well-maintained equipment and the latest technology.”
The agency “will uphold CTA’s mission of providing safety and advocacy for California trucking companies,” the release said. It also will offer support services, including inspection applications for smartphones and a digital client interface that eliminates paper and PDF applications, among other services, the release said.
“Trucking Proud’s innovative products combined with the California Trucking Association’s industry acumen will allow the agency to provide the highest quality of service to carriers,” Joe Giammona, president of the California Trucking Association, said in the release.
The association said its carrier membership hauls 90% of manufactured tonnage in California. Nearly 80% of California communities depend exclusively on trucks, the association said.