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National Interstate Keeps on Trucking - Grows from One Trucking Alternative Risk Transfer Program to a Dozen in a Decade
Richfield, Ohio – May 5, 2011 – National Interstate Insurance Company, a leader in alternative risk transfer (ART) insurance for the transportation industry, has delivered 10 straight years of growth in its trucking ART insurance programs. Since 2001, the company has grown its portfolio from one innovative trucking ART option to a dozen unique insurance programs catering to a wide spectrum of trucking companies that serve fleets as small as 40 units to over 1,500 units.
In addition to its original Voyager program, a group rental captive focusing on trucking fleets with between 100 and 250 units, the company now offers industry leading programs for a wide variety of trucking operations, including:
· For-hire trucking, fleets ranging from 40 to 1,500 units
· Petroleum haulers
· Propane distributors
· Heavy haul operations
· Moving and storage (through its Vanliner Insurance Company subsidiary)
The company’s extensive truck ART portfolio also includes custom national account programs for larger companies paying in excess of $2 million in annualized insurance premiums.
“It’s amazing to see the evolution of our truck ART programs,” said Bob Bernatchez, Vice President of Transportation. “Over the past decade we have gone from offering one ART truck solution to multiple programs designed to meet the specialized needs of the trucking industry. Every day we are exploring new ways to expand and creatively serve new niches in the trucking world.”
“Perhaps the best way to illustrate our truck ART success is by taking a walk down memory lane,” said Dave Michelson, President. “Back in 2001, we started with just two pioneering ART members in our Voyager program, and now that number has grown to over 500 members and 12 unique programs. These ART programs really foster a partnership mentality, and we enjoy watching our customers grow their businesses as well. In fact, our founding truck ART program member is still with us, and over the span of our relationship their fleet size has gone from 130 vehicles to over 1,000. We are proud of our ability to provide our customers with a risk management approach that brings stability throughout all market cycles and economic conditions.”
National Interstate’s truck ART programs, created for best-in-class companies, offer an excellent opportunity to share risk and reward with similar operators. Members can enjoy many benefits including stable premiums, as well as the opportunity for lower expenses and return of unused premiums and investment income. Customer retention in these programs has historically been over 98%.
To learn more about National Interstate’s truck ART insurance programs, contact David Slisz, at 800-929-1500 x1329, or email david.slisz@NATL.com.
About National Interstate
National Interstate Insurance Company, a wholly owned subsidiary of National Interstate Corporation (Nasdaq: NATL), is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. We differentiate ourselves by offering insurance products and services designed to meet the unique needs of targeted insurance buyers. Our products include insurance for passenger, moving and storage, and truck transportation companies, alternative risk transfer, or captive insurance programs for commercial risks, specialty personal lines consisting of insurance products focused primarily on recreational vehicle owners and small commercial vehicle accounts, and transportation and general commercial insurance in Hawaii and Alaska. We offer our insurance products through multiple distribution channels including independent agents and brokers, affiliated agencies and agent Internet initiatives. Our insurance subsidiaries are rated "A" (Excellent) by A.M. Best Company. Founded in 1989, we are headquartered in Richfield, Ohio with operations in Honolulu, Hawaii, Mechanicsburg, Pennsylvania, St. Thomas, Virgin Islands and Fenton, Missouri.