Transmission – October 2022
Introducing Our Midsize Fleet Solution
We recently launched our Midsize Fleet Solution program, expanding our risk appetite to select brokers to include fleets with 25 to 49 power units in certain states. We’re excited to expand our presence in the commercial trucking industry and provide you with more offerings to serve your customers.
A few key program highlights include:
- A refined process leveraging our updated application, which allows us to provide a simplified experience and quick turnaround, and eliminates the need for a full risk evaluation form prior to binding.
- The robust claims and loss control support that Fundamental is known for providing (virtual for this subset of our insureds).
- We will require cameras in 100% of the fleet at the time of application, and will not consider applicants that have a conditional rating, haul hazardous materials or have been in business for less than three years.
The Midsize Fleet Solution program will be rolled out in phases to specific brokers/agents and within certain states. We are currently accepting applications in the states listed below. We’ll be sure to communicate future plans for state expansion as they become available.
- Arizona 1
- New Jersey 1,2
- Utah 1
Our appetite guide and product offerings flyer provide additional details about the program and will assist in your discussions with customers. Please note that, as stated in these materials, acceptable financials will be a condition of binding.
As always, our goal is to provide you with a wide range of options to meet your customers’ needs and provide them with best-in-class service and support. We look forward to our continued partnership and encourage you to reach out with any questions you may have about this new opportunity.
1 Soft launch – not currently indicated on marketing materials
2 Currently only accepting New Jersey submissions from Maximum PA
Auto Product Update
Through conversations with agents, brokers and policyholders, we discovered that our Primary Non-Owned Auto (PNOA) product was being confused with Hired Non-Owned Auto (HNOA) insurance. Coupled with limited classification offerings, it was difficult to market and write business. Knowing this, we’ve made a few important updates that we’re excited to share.
First, PNOA will be rebranded to Employee Auto Coverage. Changing the name will allow us to stand out better in the market, avoid confusion for our agent/broker partners and prospective policyholders, and enhance submission opportunities.
We’re also pleased to offer Employee Auto Coverage in a few new classifications. Below is an overview of these additional classes:
524113 Life Carrier
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies.
524114 ACC and Health Carrier
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) health and medical insurance policies. Group hospitalization plans and HMO establishments (except those providing health care services) that provide health and medical insurance policies without providing health care services are included in this industry.
524120 Insurance Agency and Broker
This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies.
524126 P&C Carrier
This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.
524128 Insurance Carrier
This U.S. industry comprises establishments primarily engaged in initially underwriting (e.g., assuming the risk, assigning premiums) insurance policies (except life, disability income, accidental death and dismemberment, health and medical, property and casualty and title insurance policies).
524291 Claim Adjuster
This industry comprises establishments primarily engaged in investigating, appraising and settling insurance claims.
524298 All Other Insurance-Related Activities
This U.S. industry comprises establishments primarily engaged in providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting and third-party administration). Insurance advisory services and insurance ratemaking services are included in this industry.
AF Group Named to Ward’s 50 List Again for 2022!
We’re proud to share that we’ve been named to the Ward’s 50 list of top performing insurance companies for 2022!
Ward’s, a leading provider of benchmarking and best practice studies for the insurance industry, examined nearly 3,000 property/casualty and life/health insurance companies to determine their top performer list. Their recognition of our organization was based on our outstanding results in the areas of safety, consistency and superior performance during a five-year period.
As we celebrate this incredible honor, we want to offer our thanks to you, our valued agents, for the role you play in our success. Thank you for trusting us with your business — and for the remarkable partnerships we continue to build year after year.
AmeriTrust Acquisition Update
As we announced in April, AF Group, through its subsidiary Accident Fund, has entered into a definitive agreement to purchase AmeriTrust Group. Rated “A-” (Excellent) by A.M. Best, AmeriTrust offers specialty insurance programs and products including workers’ compensation, commercial package and automotive business coverages, and comprehensive product offerings in various industry segments.
With this acquisition, AF Group will soon welcome AmeriTrust’s expertise in the property and casualty space, further enhancing our successful specialty and workers’ compensation products and capabilities for organic diversification through access to new products and markets. We’re excited about the opportunities this acquisition will bring to our collective enterprise, as well as our agent partners and customers – as we remain committed to providing best-in-class customer service, protecting our shared policyholders, and continued success with our agents.
As we work through obtaining the necessary regulatory approvals, which we anticipate should be finalized in the next several months, our teams are working to ensure a seamless experience for our agent partners, customers and teammates. Once the acquisition is complete, we will take the time necessary to organize our enterprise structure and approach to the marketplace as we identify where opportunities and overlap exist.
Stay tuned for more information – and thank you for your continued partnership and support!
Voice of Innovation – Thoughts From AF Group
We are proud and excited to share that our ErgoView product – a motion capture technology tool that helps our customers identify musculoskeletal risks in the workplace – was selected for a 2022 Innovation Award from Business Insurance, which recognizes innovation in products and services provided to professional risk managers.
On the heels of this prestigious honor, AF Group Director of Innovation Sam Hosey sat down with Business Insurance for a Q&A on innovation impacts across our enterprise.
“From the top down, AF Group continues to work on ‘democratizing’ innovation,” said Sam. “Meaning, we know that innovation needs to come from all areas of the business — not just the Innovation team. While the team drives our innovation efforts, the culture at AF Group empowers our employees to challenge, and when necessary, disrupt the status quo — in an effort to proactively look for better ways to anticipate and solve customer needs. We use innovation surveys, host innovation contests and hackathons, and consistently meet with various teams to keep the organization engaged and to reinforce everyone’s critical role in exploring innovation.”
Read the full interview: http://ow.ly/xypW50Kz8Jn
August Loss Control Coffee Talk Video Link
We recently hosted our Q3 Coffee Talk, which focused on catastrophic loss response. This webinar featured Josh McAlister, a consultant from Tenstreet, who reviewed some of the current recruiting challenges in the industry and solutions that his organization offers. If you couldn’t join or would like to watch again, please click here.
New Marketing Resources
We recently put together two new marketing pieces that provide an updated overview of our company and product offerings. Feel free to share with your teams and policyholders as you see fit.