VEHICLE INSURANCE STUDY

The objectives of this report are to present vehicle insurance/self-insurance programs of the 19 urban transit systems in Wisconsin and to provide recommendations for improvement of these programs, giving particular attention to group findings. The following are the principal recommendations derived from the findings of this study: transit vehicle insurance should be placed separately from other municipal insurance, where presently combined; responsibility for transit vehicle insurance procurement should be shifted to the transit manager, or the transit manager, or the transit manager must work closely with the city department responsible for insurance purchasing; the competition method should be used when obtaining competitive insurance bids, and insurers of transit systems should be subjected to price competition no more frequently than every three years; safety and training programs and internal claim reporting procedures should be documented in writing; transit management should streamline internal reporting procedures by forewarding to insurers each item of accident information as it becomes available; statements of transit system vehicle losses should be obtained from insurers quarterly during the coverage term and updated annually thereafter; transit systems should emphasize their emphasize their favorable loss records to insurers bidding vehicle insurance programs. Transit systems except Madison and Milwaukee should consider deductibles or should purchase liability coverage limits of no less than $5 million, and should pursue a joint purchase program.

Media Info

  • Features: Appendices;
  • Pagination: v.p.

Subject/Index Terms

Filing Info

  • Accession Number: 00319324
  • Record Type: Publication
  • Report/Paper Numbers: UMTA-WI-09-8004
  • Files: TRIS, STATEDOT
  • Created Date: Jan 19 1981 12:00AM