XPT Group LLC announced today the launch by its subsidiary, W.E. Love & Associates, LLC (W.E. Love) of a new trucking program, Platinum Trucking, with Watford Insurance Company (Watford), to provide needed coverages for high-quality, experienced trucking firms that just miss being considered "prime" risks. John Love, Transportation Practice Leader, stated, “We developed Platinum Trucking specifically for the trucking and transportation liability market where we believe the needs are underserved. Platinum Trucking’s focus is on the best of the non-prime trucking firms, and we underwrite them with detailed analysis of drivers, losses, exposure and SMS data.”
The Platinum Trucking program was created by XPT and Watford for primary truck liability insurance with a focus on insureds requiring special underwriting attention. W.E. Love operates as the Program Administrator for this new Platinum Trucking program, working with its own clients as well as clients of sister companies SVA Underwriting, LLC (SVA) and Sierra Specialty Insurance Services, LLC (Sierra).
This program complements other trucking-related programs written by W.E. Love as well as XPT's other truckingrelated program administrators, SVA and Sierra.
This program will be available to select retail agents exclusively through W.E. Love, SVA and Sierra and is currently available in 20 states and expanding to all 50. The carrier for this program is Watford Insurance Company, a New Jersey domiciled admitted carrier (rated A- Financial Size Category XII by A.M. Best). www.watfordus.com
“XPT is committed to the continued growth of our partners which means new product development. The creation of Platinum Trucking allows for our trucking experts at W.E. Love to not only offer better products to their retail agents, as well as those served by SVA and Sierra, but also promotes a collaborative work environment to provide the best service possible,” said Jeff Heath, XPT Partner. As a trucking expert, Heath previously founded an MGA specializing in Excess Liability for small to medium size trucking fleets.
Based in the Southeast, W. E. Love has been writing trucking programs for over 30 years, representing a number of leading carriers. SVA, based in New York, has specialized in Physical Damage and Cargo representing leading London and US Markets, as well as an expanding trucking liability book. Sierra’s west coast operation rounds out XPT’s trucking footprint with solid trading relationships for all lines through distinguished markets throughout the United States.
About XPT Group
XPT is a specialty insurance distribution company formed through a partnership of highly experienced management executives and an institutional investor who backs insurance distribution firms. XPT brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions and new product development. XPT stands apart by delivering expertise through a collaborative partnership culture. www.xptspecialty.com
XPT recently acquired Sierra Specialty, a West Coast MGA and Wholesale Broker/Underwriter, their third transportation specialist. As their transportation presence expands, XPT continues to be committed to developing new proprietary products for the trucking and transportation market.
Contact: Mark Smith 917.843.1243 msmith@xptspecialty.com
About W.E. Love and Associates, LLC
Located in Burlington, North Carolina, W.E. Love and Associates, LLC. (WEL) is the oldest Certified Managing General Agency (CMGA) in the United States. Founded in 1982 by W.E. “Dub” Love, Jr., specializing in trucking risks. For over 35 years, WEL has been keenly focused on service and technology and will continue to innovate and remain true to the traditional sense of fair play and strong work ethic. www.welove.com
About SVA Underwriting, LLC
SVA Underwriting, LLC was formed in August 2013 in New York City by Founder and President Steven Vallejo. SVA Underwriting is a MGA/Wholesale Agency currently representing and conducting business with retailers throughout the country for Auto Liability, Auto Physical Damage and Motor Truck Cargo placements. SVA Underwriting is an “Underwriting House” that is a turnkey operation with the ability to underwrite, issue policies and endorsements and arrange for quality engineering and loss control. www.svaunderwriting.com
About Sierra Specialty Insurance Services, LLC
Sierra Specialty Insurance Services, LLC was founded in 2005 by Kathy Schroeder and Mark Schroeder. Sierra Specialty provides retail insurance professionals with underwriting and brokerage services. As an MGA Sierra
Specialty writes many lines of business; General Liability, Property, Packages, Professional Liability, EPLI, Cyber, Commercial Auto, Trucking & Cargo, Inland Marine, Garage, Agriculture and Farm & Ranch. Our Specialty Programs are designed for specific industries and classes. Sierra Specialty is committed to serving the retail insurance professionals by providing the best possible service, price ahttps://xptholdco.com/wp-admin/post.php?post=23&action=edit#nd products. www.sierraspecialty.com