XL Group has launched Motor Truck Cargo coverage solutions, a customizable coverage designed for mid-to-large size trucking operations in North America.
XL Group Inland Marine vice president Alexander McGinley said that the Motor Truck Cargo coverage solution has been designed to be an extremely flexible and easy-to-understand product for the clients.
"We can easily tailor our coverage to meet individual insured needs, including flexible limits for 23 additional coverages, 22 optional endorsements, multiple reporting options and payment plans," McGinley added.
Contract penalty, employee tools and work clothing, expediting expense, extra expense, fire protection systems, freight charges, loss adjustment expenses and property that supports business are some of the 23 coverages.
"Coverage is available on a full policy limit, primary, excess and participation using either admitted or non-admitted paper," McGinley continued.
The 22 optional endorsements comprise contingent coverage for freight forwarders and brokers, destination market value, employee theft, single deductible across multiple coverage forms, cargo rust or corrosion protection and temperature control system breakdown coverage.
XL Specialty Insurance Company (admitted) and Indian Harbor Insurance Company (nonadmitted) will provide XL Group’s Motor Truck Cargo Coverage.