CORPORATE FLEET INSURANCE
CUMULATIVE FLEET POLICY: REGISTER BOOK
There are many companies that own a large fleet of cars for business, but not all of them know that they can enjoy a cumulative policy called the Register Book. It is a form of insurance policy for both liability and other risks, is reserved for the management of company vehicle fleets, and helps mitigate the economic impact the fleet may have on transportation costs.
This contract allows companies that own fleets of vehicles to contract a single warranty for all company vehicles, benefiting from subsidized rates and consequently reducing operating costs. Corporate fleet insurance is a form of cumulative guarantee with a predetermined premium, which changes when a new vehicle is included in the contract or is excluded from it, and also allows for the same insurance maturity for all contracts taken out.
Companies have the option of recording on the registration card of the company vehicle the details of the person authorized to use it and the period during which this person enjoys this authorization.
To take out an insurance policy for a corporate fleet, the company must consider several factors, including:
- occupational risk–in jobs with a high risk of accidents there is less liability to the driver;
- The financial situation of the employer and that of the driver;
- the skills of the driver-in many cases the company is obliged to train the employee user of the company vehicle to avoid running into contributory negligence.
The ability to control and improve the risk profile of the fleet, as well as the direct and indirect costs of accidents, fuel consumption and efficiency, positively affects insurance premiums. This is precisely one of the reasons for the increasing attention of companies to the safety and efficiency factors of their car fleets.
To achieve these goals, however, the foundations must be laid within the company for the development of a true “organizational culture of road safety,” based on active road risk management policies, operating practices and procedures to ensure that drivers are always in a position to drive company vehicles safely. A goal, that of fleet safety, which certainly takes a long time and presupposes the activation of a variety of methods and tools such as: precise rules and related sanctions, training, internal communication, awareness actions, periodic health checks and safe driving courses.
FLEET RISK MANAGEMENT WITH ATHENA
Risk factor prevention activities are becoming increasingly important for companies. Many companies are already oriented toward finding comprehensive solutions for the safety of their fleets, this in accordance with the now widespread belief that “incident management” is increasingly taking on the meaning of risk factor management more precisely.
Fleet risk management is a prevention activity proposed by Area Brokers Industria for corporate fleets.
Through its proprietary Software, Athena, Area Brokers Industria ensures a very thorough analysis of the data to determine what specific actions need to be taken to control and improve the risk profile of the fleet while also positively impacting the level of insurance premiums. A proper and constant analysis of claims and related costs, both current and projected, certainly helps in determining the most suitable insurance solution for one’s fleet. The cost of fleet insurance premiums is driven by the cost of claims, so the overriding goal must be to reduce accident rates in order to reduce premiums and perhaps also the possibility of reviewing the level of insurance taken out for one’s fleet on a more rational and informed basis.