Rokstone Marine announces new autotransporter capacity deal

Rokstone has confirmed a new USD 1 million capacity deal with Lloyd’s capacity to launch a specialist Autotransporter solution as it seeks to become the premier inland marine MGA. The deal allows Rokstone to fill a critical gap in the market and expand its line size in response to market demand for specialized trucking solutions.

The additional Lloyd’s capacity enables Rokstone to offer specialized wordings and a wider range of tailored deductible structures to meet insureds’ risk retention and premium goals - vital for a market that has traditionally suffered from a lack of choice, contraction, and limited flexibility.

Traditional policies often bundle Motor Truck Cargo (MTC) and Vehicle Physical Damage (VPD) with Auto Liability (AL). However, Autotransporters are technologically advanced trucking operations with unique hazards, higher limit requirements, and typically experience lower loss frequencies than traditional trucking companies. They also rely on specialized policy wording and expert claims handling. Therefore, separating MTC and VPD from AL can provide cost savings, improve the claims experience, and create greater consistency in underwriting.

Rokstone Marine’s new capacity allows it to expand its target segment to include larger specialty fleet operations. As well as fill a glaring gap during a challenging renewal market for trucking companies by offering the necessary coverage extensions and wordings that Original Equipment Manufacturers (OEMs) and shippers require.

Speaking about the capacity, Mike Nukk, Head of Marine at Rokstone commented: “This is great news for the market, at a time when we see continued retraction in specialized segments. Adding this new capacity is critical as inflation and technology improvements are causing vehicle costs to rise exponentially. Speed matters in this market; not only are we bringing innovative solutions to brokers and their clients faster than our peers, but guaranteed faster turnaround times, consistent underwriting, and a superior claims experience, thanks to our expert global team and the advanced technology capabilities of our proprietary underwriting and distribution platform, ATOMX.”