Truckers have unique insurance needs. The motor carrier policy, truckers
policy, trailer interchange coverage, motor truck cargo insurance, and
insurance for nontrucking use (IFNTU) are all examples of insurance solutions
specifically designed to meet the needs of truckers.
In the competitive marketplace, IFNTU policies are sold
either individually (usually in conjunction with the owner-operator physical
damage coverage) or as part of a group of owner-operators permanently leased to
a single regulated motor carrier. Since the latter can generate substantial
premiums, some retail truck producers and truck insurers aggressively seek such
IFNTU fleet policies.
This white paper explores the IFNTU coverage, focusing on
what IFNTU is, solutions for addressing the exposures of IFNTU, and the court
decisions interpreting the scope of IFNTU.
Your takeaways from this report include the following.
- Trucking terminology: the trucking industry
versus the insurance industry
- What IFNTU is and why it was developed
- Solutions and insurance coverage addressing
the IFNTU exposure
- The coverage, claims, and courts'
interpretations of IFNTU exposures