HARTFORD, Conn. & NORTHUMBERLAND, Pa., May 1, 2024
/PRNewswire/ -- Foley and Keystone have built a strategic
partnership, combining Foley's industry-leading driver data
software and DOT compliance programs with Keystone's unique
commercial insurance and risk management solutions for US companies
with transportation sectors.
With a 30 percent increase in commercial insurance premiums and
underwriters requiring tangible proof of safety initiatives taken
by companies with employees who drive, it can be challenging for
these businesses to find affordable insurance coverage. While
numerous factors out of their control (i.e. inflation), can impact
their insurance costs, companies can control their risk
profiles by implementing data monitoring programs that track driver
safety behavior.
Joel Sitak, CEO of Foley
Services, says this sort of hard data will benefit insurance agents
who negotiate with underwriters on behalf of their clients. He
explains, "The agent can really show the underwriter that their
client is serious about reducing risk."
Sitak adds that it is critical to have access to this data the
minute it registers with the FMCSA, which is how Foley's CSA
Monitor works.
"It's getting access to that data faster so that you can take
action on it before it becomes a problem in the underwriting
process," Sitak says. "And by getting ahead of that, your
underwriters are going to look favorably upon that situation."
As a result of this partnership, Foley and Keystone have
cobranded a new white paper, Commercial Insurance Mayhem: How to
Stop the Bleeding. It details the hard state of the commercial
insurance market and how Foley's Compliance, Safety, and
Accountability (CSA) Monitor program helps Keystone customers
achieve better CSA scores and lower insurance premiums.
Michael Kuiros, Director of DOT
& Fleet Services and Risk Management for Keystone, says, "A lot
of things are left out of your control. The things that are left in
your control would be your CSA score."
Partnering with Foley allows Keystone to provide their
DOT-regulated clients with risk-reducing, and, over time, and
cost-saving software.
By connecting companies with risk mitigation solutions and
agencies that highly regard them during the underwriting process,
the Foley and Keystone collaboration helps soothe the financial
insurance burden faced by owner-operators, large fleets, and other
employers who rely on commercial drivers.
About Foley Services
For over three decades, Foley has been a trusted partner to
companies with fleets of all sizes. Our technologically advanced
approach to DOT compliance makes it easier for employers to track
critical driver and business data to make informed decisions and
proactively reduce risk.
About Keystone
Since 1983, Keystone has grown to partner with nearly 300
agencies to foster strong, reliable relationships between insurance
carriers and customers. Individuals, families, and businesses gain
access to industry expertise, financial services, and a network of
quality independent agencies.
Contact:
Mariah Barr
mariah.barr@foleyservices.com
(716) 512-1706
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SOURCE Foley