Transportation is a major force in the U.S. economy, and the trucking industry is a major force in transportation. This course introduces trucking exposures and insurance to finance those exposures, focusing on the standard coverage forms developed for this line by Insurance Services Office, Inc. It examines key motor vehicle statutes, the public policy issues behind the statutes, and the effect of these statutes on various types of commercial auto and motor carrier coverages.

The course begins by taking a broad look at some of the most common types of statutes and then moves on to a detailed analysis of the business auto coverage form and the motor carrier coverage form (2013 edition dates). Following that is a review of common endorsements to modify policy provisions, expand or restrict coverage, add additional insureds, and tailor the policy to apply to specific types of risks. The policies’ declarations pages are also considered at some length, and contractual and hired/nonowned exposures are discussed from the perspective of the various exposures.

Upon completion, students will be able to:

• recognize the effect of certain motor vehicle statutes that have been enacted to deal with the economic consequences of motor vehicle accidents
  
• compare the purposes and identify similarities and differences among business auto and motor carrier insurance policies
  
• given a stated objective, select appropriate coverage symbols for each of the coverages in business auto and motor carrier policies
  
• identify the parties insured by business auto and motor carrier policies
  
• recognize the purpose and effect of the exclusions found in business auto and motor carrier policies
  
• recognize the effect of various regulations affecting motor carriers
  
• select appropriate endorsements to modify a business auto and motor carrier policy to accomplish stated objectives, and recognize the effect of those endorsements
  
• given a case situation and relevant policy information, determine whether and to what extent a given commercial auto or motor carrier loss would be covered