Chartis has introduced an Auto Physical Damage Alternative Fuel Incentive Deductible designed to assist business customers in their efforts to be environmentally responsible.
The enhancement allows customers to be reimbursed for their auto physical damage deductible, or have it waived, up to a maximum of $1,000, if a covered gasoline-powered vehicle is deemed a total loss and is replaced with a “green automobile.” Insureds must submit documentation verifying a “green auto” purchase to their claims adjuster no later than 30 days after payment of the total loss settlement.
There is no additional charge for this coverage enhancement, which is available as an endorsement to commercial automobile policies issued by Chartis insurers.
“Today’s businesses are striving to reduce their carbon footprint, so it is incumbent upon us to offer solutions that assist them in their effort to adapt to evolving regulations,” said Louis Iglesias, chairman and CEO of Commercial Casualty.
Was this article valuable?
Here are more articles you may enjoy.
AI Bubble Risks Worst S&P 500 Crash Since 2008, Strategist Says 
Broad AI Exclusions in Insurance Policies Could Create Uncertainty, Marsh CEO Says 
Supervisor’s Punching of Employees Enough for Tort Suit, NC Appeals Court Says 
‘Unusual’ Isaias Brings Winds, Downed Trees But Fewer Claims Than Expected 
