XPT Group, Watford Insurance Launch Trucking Program for Underserved Risks

October 2, 2019

W.E. Love & Associates, LLC, a subsidiary of XPT Group LLC, has launched a new Platinum Trucking program with Watford Insurance Co. to offer coverages for high-quality, experienced trucking firms that just miss being considered “prime” risks.

According to John Love, Transportation Practice leader, the Platinum Trucking program was designed for the underserved trucking and transportation liability market.

“Platinum Trucking’s focus is on the best of the non-prime trucking firms, and we underwrite them with detailed analysis of drivers, losses, exposure and SMS data,” Love said.

The Platinum Trucking program was created by XPT and Watford for primary truck liability insurance with a focus on insureds requiring special underwriting attention. W.E. Love operates as the Program Administrator for the Platinum Trucking program, working with its own clients as well as clients of sister companies SVA Underwriting, LLC and Sierra Specialty Insurance Services, LLC.

This program complements other trucking-related programs written by W.E. Love as well as XPT’s other trucking related program administrators, SVA and Sierra.

This program will be available to select retail agents exclusively through W.E. Love, SVA and Sierra and is currently available in 20 states and expanding to all 50. The carrier for this program is Watford Insurance Co., a New Jersey domiciled admitted carrier.

Located in Burlington, North Carolina, W.E. Love and Associates, LLC. is a certified managing general Agency specializing in trucking risks.

SVA, based in New York, has specialized in physical damage and cargo representing leading London and U.S. Markets, as well as an expanding trucking liability book. Sierra’s West Coast operation rounds out XPT’s trucking footprint with trading relationships for all lines through markets throughout the United States.

XPT is a specialty insurance distribution company formed through a partnership of management executives and an institutional investor who backs insurance distribution firms. XPT brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development.

XPT recently acquired Sierra Specialty, a West Coast MGA and wholesale broker/underwriter, their third transportation specialist.

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