National Interstate Insurance has launched TowCap Premier, a group rental captive, designed exclusively for the towing and recovery industry.
The towing and recovery industry captive, which is the first of its type, is a response to the instability experienced in the industry’s insurance market recently.
Available across the US, TowCap Premier offers coverage that includes auto liability, auto physical damage and garagekeepers, on-hook cargo, general liability and workers’ compensation.
Director of speciality transportation for National Interstate Mike Winchell, stated: “We are thrilled to bring TowCap Premier to the towing and recovery industry.”
He added: “Throughout 2018, we look forward to working with our founding members to further improve their operations, reduce their overall cost of insurance and raise safety standards throughout the industry, while bringing much needed stability to the towing insurance market.”