NorthBridge Insurance

Henry

Active Member
10
Has anyone received rate hikes on their fleet with NorthBridge Insurance? Any recommendations for other insurers?
 

thebluffs1

Site Supporter
20
Has anyone received rate hikes on their fleet with NorthBridge Insurance? Any recommendations for other insurers?
Its pretty much par for the course right now. Northbridge's mad rush to insure new entrants appears to now be "reaping the whirlwind" of their earlier underwriting decisions.
 

bellcitytransport

Active Member
15
Has anyone received rate hikes on their fleet with NorthBridge Insurance? Any recommendations for other insurers?
Our US exposure was higher than what they like to see, and our renewal rate reflected such. If you have a good relationship with your broker, it might be time to test the waters..
 

Millennial

New Member
2
If you run a tight ship...look into captives; Puts you in a pool with like-minded, safety-conscious and also accountable carriers
 

TRKINSURE

Active Member
15
Agreed with Milennial, look at captives if you’re steadily running 30-40 units for multiple years.

Read my thread titled “State of the Industry”. NorthBridge is always expensive for fleets with high US exposure and yes, they’re averaging 18% rate increases this year.

PM me if you want up to date intel on markets.
 

Trans

Member
10
Northbridge is doing return premiums for any parked trucks. Due to COVID, they lifted the 45 days minimum requirement. So go ahead put it on hold for as long you want.
 

LOADED MILES

Member
5
Captives are the way to go. The general insurance paints good bad and ugly carriers with same brush. Trucking is high risk to insure you all pay for the bad and ugly . Captives help pool safety minded carriers togther . You have a good year you get rebates . Have safe years get little back. Insurance companies don’t normally give you a cheque at end of term. Usually another 10 precent increase
 
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