“What do you mean we have to pay that claim, we cancelled that policy a year ago?” Sound familiar? Insurers are routinely faced with unanticipated exposures because U.S. Department of Transportation filings have not been cancelled, filings are made with greater limits than required or filings are made for carriers that did not even require filings. Improper filings are a ticking time bomb for any insurer. Every day that any incorrect filing remains in place, you increase your risk and potentially affect your bottom line.

Insurance carriers are often unaware of the exposure until it is too late and the losses have already occurred.

CAB can provide you with up to date information on the current state of your filing exposure. With our help you can now fix the problems before the losses occur.

CAB’S Insurance Filings Monitoring Service

Monthly, our new system scans through all the outstanding filings that you have registered with the U.S. Department of Transportation. Each of these individual filings will be analyzed to determine whether or not it falls under any of the following categories:

• Filings with effective dates 5 years old or older
• Filings on behalf of carriers whose authority has either been revoked or never granted.
• Filings utilizing a form that results in an effective filings with full coverage regardless of indicated limits
• Filings for amounts in excess of the USDOT required limit
• Unnecessary cargo filings on behalf of contract carriers
• Filings for brokers (a broker does not require a filing)
• Filings on behalf of Mexican carriers (filings are not required for Mexican carriers)

Each of the above categories can potentially expose your company to unnecessary liability.

CAB’s Insurance Filings Monitoring Report

For an annual fee, subscribers receive automatically on a monthly basis or more frequently on demand, a detailed, categorized report in PDF format, which contains all the in-force filings we have flagged for your review. Within each category in the report is included the motor carrier’s MC #, USDOT census #, name, policy #, and any information that is specifically relevant to that category.

In addition to this PDF report, subscribers will receive, on a monthly basis, a spreadsheet, in Excel format, which will contain a listing of every outstanding filing, and any problems we have identified. This spreadsheet will provide you with a means of dynamically sorting the data to your specifications.

This service is provided to standard CAB subscribers and non CAB subscribers at the rate of $20 per filing for the first 500 filings and $2 per additional filing over 500. Subscribers to our full Premium Service package will receive a discounted subscription rate.

Can you really afford not to enroll in this program?

Correcting just one increased filing limit on a MCS 90 endorsement can save you hundreds of thousands, and sometimes even millions of dollars or more for each loss. Canceling a filing for a terminated policy can save you exposure of $750,000, $1,000,000 or as much as $5,000,000 per accident on a personal injury claim, and up to $10,000 per accident on a cargo loss. Finding even one account which is incorrect, and avoiding that loss will more than cover the nominal annual cost of this program.