Artex Risk Solutions launches group captive for US transportation industry

Artex Risk Solutions has launched a new group captive designed to address risks for US transportation, trucking for hire, convenience store operators and petroleum marketers.

According to the announcement, the group captive is a homogenous insurance company that will provide coverage for workers’ compensation, auto liability and auto physical damage.

In the group captive, Artex serves as the captive consultant and manager and also offers claims advocacy.

While, Midwest Employers Casualty and Carolina Casualty are insurance providers, and Gallagher Bassett and Carolina Casualty handle both claims administration and loss control.

Martin Hughes, Executive Vice President, Specialty Risk Transfer for Artex in North America, commented: “The U.S. transportation industry has experienced pockets of reduced insurance and risk management options in recent years due to labor shortages, supply chain challenges and a distressed insurance market. The new group captive addresses a need for alternative risk solutions in the space.”

The company explained that as with all group captive solutions, the objectives of this program are to provide the participant owners with the ability to take control of their insurance program through quality claims and loss control services, in order to retain underwriting profits and investment income and reduce the cost of insurance.

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