ACE Group has unveiled its latest standalone passenger accident insurance, designed to meet the unique needs of the transportation industry.
The new product offers accidental death and dismemberment coverage and accident medical/dental expense benefits for authorized passengers who are injured while traveling with a driver who is working under the operating authority of the motor carrier.
ACE’s transportation product delivers customized offerings to assist protect independent contractors and transportation carriers who are not required by law to carry workers compensation coverage.
The company believes that the exposures faced by the transportation industry are gradually increasing, which requires companies to streamline their insurance and risk management practices.
ACE USA accident & health division president Joe Vasquez said that ACE has developed extensive expertise underwriting specialized insurance products for independent contractors in the transportation industry.
"The new Passenger Accident product offering complements ACE’s existing product portfolio by providing needed protection for drivers, owner-operators, and motor carriers who allow non-employee passengers to travel in their trucks while on duty."