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Protective’s flagship self-insured retention (SIR) product is ideal for insureds who wish to save money on their bottom line by assuming more of their own risk.

Our product differs greatly from your standard ISO form, and has been in circulation since the inception of Protective Insurance Company in 1954. Check out the 4 key advantages of SIR over ISO:

  1. Designed to meet the needs of the industry: The contract of indemnification is specifically designed to fit the needs and exposures associated with the motor carrier industry; ISO forms have been developed based on input from various ISO company participants from different regions, company backgrounds and philosophies, and can be very defined and restrictive in scope.
  2. Customizable to the motor carrier: The “manuscript” form of Protective’s contract is written to be customizable and address the particular needs of an individual motor carrier; ISO forms are very defined and rigid without room for customization due to filing requirements with each state’s regulatory agency.
  3. Three forms in one: The single SIR contract addresses all the elements of ISO’s Motor Carrier Coverage Form, Commercial General Liability Form and Motor Truck Cargo Form under a single set of conditions, definitions and exclusions.
  4. Increased control and involvement in claims-handling process: Because this product is a contract, not a policy, it allows insureds to choose their level of involvement in the claims process within their retention. There are three options for handling liability claims within the insured’s retention: Protective’s Contract Claims service, third party administrator (TPA), or self-handle. With an ISO policy, insureds relinquish control over their claims costs to their insurance company.

Talk to your agent or Protective representative to find out if our SIR product is the right fit for your operations.

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