Introduction to Commercial Inland Marine-Introduction to Commercial Inland Marine: Transportation: MTC and WLL

Video Transcription

Video Summary

In the Inland Marine Underwriters Association's "Introduction to Inland Marine Transportation Insurance" class, presented by Diane Springle, the session focused on understanding various aspects of inland marine and transportation insurance, establishing coverage types, and underwriting considerations. The class is part of a series with remaining sessions on the following Monday and Tuesday. Participants were encouraged to download presentation handouts and engage through a Q&A feature.<br /><br />Diane Springle, with decades of experience in the insurance industry, provided insights into the nuances of inland marine insurance, highlighting the importance of understanding who owns the goods (consignor vs. consignee), types of motor carriers (common, contract, and exempt carriers), and valuation considerations (replacement cost, market value, etc.).<br /><br />The session covered risks involving various elements such as breakage, theft, and spoilage, and discussed the importance of understanding the history of transportation regulations like the Carmack Amendment and the role of the Federal Motor Carrier Safety Administration in ensuring safety standards.<br /><br />Participants learned about motor truck cargo insurance, which covers trucking companies hauling goods for others, differing from transportation insurance covering owners moving their own goods. They also explored the potential hazards faced during transportation, the significance of packaging and load securing, and the importance of technology in preventing losses.<br /><br />The class included detailed discussions on handling claims efficiently and assessing risks through financial stability. Emphasis was placed on the significance of comprehensive screening and training for drivers and maintaining equipment to minimize potential losses. For highly engaged participants like Philip Moore, a $25 Amazon gift card was awarded as an incentive.

Asset Caption

Date of Publication: December 3, 2024
Duration: 2 hours 20 minutes

Instructed by Diane Sprengel, Inland Marine Segment Manager, Selective Insurance

Meta Tag

Module Introduction to Commercial Inland Marine

Keywords

motor truck cargo insurance

Diane

training

cargo protection

transportation risks

loss prevention strategies

securing loads

driver selection

equipment maintenance

GPS tracking

technology for safety

cargo storage

at-rest protection

handling risks

claim handling

Inland Marine Insurance

Transportation Insurance

Underwriting Considerations

Coverage Types

Diane Springle

Consignor vs. Consignee

Motor Carriers

Valuation Considerations

Carmack Amendment

Federal Motor Carrier Safety Administration

Risk Management

Claims Handling

Driver Training

Philip Moore