Adjusting the Limits

Ben (carrier owner), Hannah (dispatcher) and Nicole (insurance agent) are on a conference call discussing a new contract with Apex Freight Solutions in Chicago.

Adjusting the Limits

True or false?

Ben and Hannah are discussing a new contract with a company called Apex Freight Solutions.

• True
• False

Nicole initially tells them they do not need any additional coverage for the new shipper.

• True
• False

Hannah discovers a contract clause allowing a certificate holder status instead of an umbrella policy.

• True
• False

The insurance agent says the extra policy would have saved Ben four thousand dollars.

• True
• False

Nicole agrees to issue the required certificate document within twenty minutes.

• True
• False

Listen again and complete the sentences

• Ben: Alright everyone, thanks for joining. Nicole, we've got a massive new account with Apex Freight Solutions out of Chicago, but they're demanding an ____ and a much higher coverage limit before we can touch their loads.
• Hannah: Yeah, and the problem is that our current policy renewal isn't for another four months. If we don't fix this ____ today, we're going to lose the lane entirely, and we've already turned down other cheap freight for it.
• Nicole: Well, assuming that you want to go ahead with them, we'd have to adjust your auto liability and add an ____ endorsement. But it's going to trigger a pretty nasty premium increase.
• Ben: How nasty are we talking, Nicole? Our ____ hasn't been spotless this past year, so I'm worried the loss ratio is already hurting us.
• Hannah: Wait a minute, Nicole. Let me look at this contract clause again. Look right here on page twelve. It says they'll accept a ____ status with a standard waiver of subrogation instead of a separate umbrella policy if the carrier has a clean safety score.

Sources: photo by Usen Parmanov on Pexels