National Interstate Insurance Co. has formed a new group rental captive for waste haulers to complement its traditional insurance program. The company is now seeking operators with a solid track record in the waste industry to become founding members.
According to John Rich, director of Environmental Transportation at National Interstate, the waste operators segment has been extremely underserved when it comes to ART options. “This group rental captive is a risk management solution for waste operators who are committed to safety excellence. Companies joining the program will enjoy more premium stability than the traditional market, as well as the potential to receive some of their premium back if it is not used to pay claims. In addition, they may earn investment income on a portion of their premium.”
Rich says the distribution approach will also allow retail agents to work directly with National Interstate.
National Interstate offers a one-stop-shopping experience for coverages including auto liability, auto physical damage, general liability, as well as workers’ compensation. Targeted operations include best-in-class residential, commercial and industrial collection, recyclers, construction and demolition debris removal, transfer stations, and material recovery facilities.
National Interstate is an active member of the National Waste and Recycling Association.
National Interstate Insurance Co., a wholly owned subsidiary of National Interstate Corp., is a specialty property and casualty insurance company with a niche orientation and focus on the transportation industry. 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 transportation and general commercial insurance in Hawaii and Alaska. National Interstate is headquartered in Richfield, Ohio with operations in Kapolei, Hawaii, Mechanicsburg, Pa., and Fenton, Mo.