Eastern Atlantic Insurance Company specializes in Auto Liability, Physical Damage, Cargo, and General Liability coverage for owner/operators and small fleets. Our dedicated commercial auto specialists offer swift, customized quotes at competitive rates.
When you choose Eastern Atlantic, we prioritize your filings and certificates. In the unfortunate event of an accident, our mission is to expedite your return to the road while maintaining precise claims adjustment. Our experienced in-house and field adjusters are industry professionals.
We believe in the art of building relationships with our agents and external adjusters, a practice that’s often overlooked. Our commitment is to deliver the utmost value for your time, investment, and resources. Allow us the opportunity to demonstrate our dedication to your insurance needs.
Credit; Freepik
About Eastern Atlantic company
- Eastern Atlantic, founded in 1985 by the founder of Residential Warranty Company, LLC (RWC), a major provider of 10-year structural home warranties in the United States, was initially established to insure home warranties provided by RWC.
- However, in 1990, a risk retention group was formed to handle RWC’s warranties, leading to Eastern Atlantic becoming dormant for several years.
- In the mid-90s, seizing an opportunity in the transportation industry, Eastern Atlantic reemerged by reinsuring a multi-state commercial auto program.
- To support this expansion, the company increased its staff, incorporating experienced truck insurance professionals.
- Finally, in 2002, Eastern Atlantic was officially re-established. Partnering with a trusted general agent, the company began offering insurance coverage for owner/operators and small fleets in Pennsylvania.
- Eastern Atlantic gained a strong reputation in the Pennsylvania trucking community and consistently achieved underwriting profits in the following six years.
- Maintained an A- Excellent rating from AM Best since 2008.
- Expanded coverage from just the home state to serving owner/operators and small fleets in 13 states.
- Product line growth to include Auto Liability, Physical Damage, Cargo, and General Liability.
- Currently represented by four general agents with exclusive territorial access to Eastern Atlantic.
Eastern Atlantic Corporate Details
- History and Founding Year:
- Established in 1985 by RWC founder to insure home warranties.
- Became dormant in 1990 due to RWC’s growth, handled warranty insurance through a risk retention group.
- In the mid-90s, entered the commercial auto insurance industry, expanding staff.
- In 2002, re-emerged to insure owner-operators and small fleets in Pennsylvania.
- Currently operates in 13 states, offering cargo and general liability coverage.
CEO and Leadership Team:
- Led by Vice President of Operations, Robert Yeselavage.
- Supported by key leaders: Tony DeJesus (VP of Underwriting), Christine Beistline (VP of Claims), and John Klinefelter (VP of Finance).
- Board of directors provides guidance and oversight.
Annual Report:
- Files financial statements with NAIC and A.M. Best.
- As of June 30, 2022, reported assets of $57.8 million, liabilities of $32.9 million, and policyholders’ surplus of $24.9 million.
- Disclosed net premiums written of $18.4 million, net investment income of $0.8 million, and net income of $1.4 million for H1 2022.
Financial Stability Ratings:
- A.M. Best assigns an A- (Excellent) financial strength rating and an “a-” long-term issuer credit rating.
- Ratings include a stable outlook, reflecting strong balance sheet strength and sound operating performance.
- Ratings also consider EAIC’s niche market focus, effective risk management, conservative investment portfolio, and strong reinsurance program.
Market Share and Company Size:
- Specializes in the transportation industry, particularly serving independent owner-operators and small fleets.
- Operates in 13 states through exclusive general agents.
- Reported a 0.02% market share in the U.S. commercial auto insurance market in 2020.
- Ranked 176th among 1,037 companies with direct premiums written of $36.8 million in 2020.
- Employed 11 individuals as of September 2019.
Eastern Atlantic Insurance Company Inventory
Commercial Auto Liability and Physical Damage: Eastern Atlantic provides coverage with a maximum combined single limit of $1,000,000 for liability and a maximum fleet value of $2,000,000.
Motor Truck Cargo: We offer standard coverage with a limit of $100,000 per load. Higher limits can be considered, subject to underwriting.
General Liability (available exclusively for motor carriers for hire): Our coverage includes a maximum of $1,000,000 per occurrence and a $2,000,000 aggregate limit.
We prefer owner-operators and fleets of up to 25 power units. Larger fleets will be evaluated on a case-by-case basis, subject to underwriting.
Our preferred radius of operation extends up to 600 miles. In addition to general commodities, we cover a variety of specialties, including dumps, flatbeds, over-size loads, tanks (non-hazmat dry bulk & liquid), parcel delivery, and more, subject to underwriting guidelines.
Please note that Eastern Atlantic does not provide insurance for truckers involved in passenger transportation for any purpose.
Eastern Atlantic FAQ’S
What does primary and noncontributory mean?
If stipulated by the lessee in a contract, “primary and noncontributory” dictates that your commercial auto liability policy takes precedence in paying claims. This clause also prevents your insurer from pursuing contributions from other policies to cover a portion of the loss on a primary basis.
What is an MCS-90?
The MCS-90 is a necessary endorsement for FMCSA-regulated motor carriers, ensuring public protection by obligating insurance coverage.
What does hired auto liability cover?
Hired Auto coverage offers business-related liability insurance for leased, rented, or borrowed vehicles.
What is a driver surcharge?
A “Driver Surcharge” is an extra cost added to your auto liability and physical damage premium. At Eastern Atlantic, we prioritize safe, experienced drivers. Hiring good drivers can lower or remove your surcharge. If you have a solid safety program and hiring practices, you may qualify for discounts.
Why report all new drivers?
At Eastern Atlantic, we value experienced and safety-conscious drivers who are less likely to be involved in preventable accidents. We understand that driver turnover is common, especially if you operate five or more trucks. Much of our underwriting and pricing relies on the experience and driving records of the drivers you report. Hiring an unreported driver can lead to complications later in the policy term.
What is non-ownership liability?
Eastern Atlantic Insurance company economic data
- Premium Costs:
- Eastern Atlantic Insurance offers competitive rates for commercial auto insurance, including liability, physical damage, cargo, and general liability coverage.
- Factors affecting premiums include vehicle type, radius of operation, driving history, coverage limits, and deductibles.
- To obtain a personalized quote, contact a local general agent through their website.
- Payment Methods:
- Eastern Atlantic accepts various payment options, such as major credit cards (Visa, MasterCard, American Express, Discover), checks, money orders, and electronic funds transfer (EFT).
- Choose between monthly or annual payment plans.
- Monthly reporting is available, allowing payment based on actual miles driven each month.
- Discounts and Special Offers:
- Safe Driver Discount: Offered to those with a clean driving record for the past three years.
- Defensive Driving Course Discount: Available to those who complete an approved defensive driving course.
- Dashcam Reimbursement Program: Reimbursement of up to $150 per dashcam for owner-operators or fleet managers with proof of purchase and agreement to provide accident videos.
- Multi-Policy Discount: Accessible for policyholders with multiple Eastern Atlantic policies.
- Good Student Discount: Applicable to students under 25 with a GPA of 3.0 or higher.
- Safety Feature Discount: Available for vehicles equipped with specific safety features.
Eastern Atlantic Company Claims protocol
Claim Handling:
Eastern Atlantic is known for prompt and equitable claims processing.
They have experienced in-house and field adjusters with expertise in the commercial auto industry.
A loss control program for fleet accounts helps reduce accidents and claims.
Eastern Atlantic holds an A- (Excellent) rating from AM Best, indicating strong financial stability.
The 2020 combined ratio was 97.9%, reflecting efficient underwriting operations and profitability.
Claim Status:
To check your claim status, log in to your account on their website.
Contact them via the toll-free number 866-239-2455 or email claims@IADclaims.com.
Get updates and answers to your claim-related questions from a claims representative.
Required Documents for Claims:
Depending on your claim type and severity, you may need to submit various documents.
Commonly required documents include a copy of your insurance policy, police or accident reports, driver’s license and registration copies, photos or videos of damage, repair-related receipts, and a completed and signed Accord Loss Form detailing the incident.
Average Claim Approval Time:
Eastern Atlantic Insurance aims for efficient claims processing.
The approval time varies based on factors like claim complexity, available evidence, party cooperation, and adjuster workload.
They aim to contact you within 24 hours of claim report receipt, assign an adjuster within 48 hours, complete investigation and evaluation within 10 days, and issue payment within 15 days of settlement agreement.
Claim Customer Reviews:
-
- Eastern Atlantic Insurance has a strong reputation for claim service.
- They hold an A- (Excellent) AM Best rating, indicating financial strength.
- Their BBB rating is A+ with a 4.5-star average customer review.
- Customer feedback highlights prompt and fair claims handling, courteous staff, and competitive rates and discounts.
Eastern Atlantic Coverage Specifics
Policy Exclusions:
- Exclusions are events not covered by your policy.
- Common exclusions for Eastern Atlantic Insurance include intentional, fraudulent, or criminal acts.
- Exclusions for racing, speed testing, or transporting passengers for hire.
- Exclusions for hauling hazardous materials, use outside the USA, and war-related events.
- Exclusions for wear and tear, non-compliance with laws, unauthorized drivers, and DUI.
Coverage Limits:
- Eastern Atlantic’s limits are:
- Commercial Auto Liability and Physical Damage: $1,000,000 combined single limit for liability and $2,000,000 fleet value.
- Motor Truck Cargo: $100,000 standard limit, subject to underwriting.
- General Liability (motor carriers for hire): $1,000,000 occurrence and $2,000,000 aggregate.
Deductibles:
- Deductibles vary based on coverage and risk profile.
- Physical Damage: $1,000 per occurrence for collision and comprehensive.
- Cargo: $1,000 per occurrence.
- General Liability: $0 per occurrence.
- No liability deductibles (per claim Property Damage Deductible available, subject to underwriting).
Add-ons or Riders:
- Optional features to enhance coverage.
- Options include Pollution Liability, Waiver of Subrogation, Primary and Noncontributory, Single Deductible, Special Limit Cargo, and Dashcam Reimbursement Program for qualified owner-operators and small fleets.
Eastern Atlantic regulatory and adherence
Licensing Information:
- Licensed to write commercial auto insurance in 13 states: Connecticut, Delaware, Indiana, Maryland, Massachusetts, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Virginia, and West Virginia.
- License numbers and state contact details available on their website.
- Verify licensing status with NAIC using NAIC number 286493.
Regulatory Actions or Violations:
- No significant regulatory actions or violations in the past five years.
- NAIC Complaint Index Report shows minimal complaints: zero in 2020 and 2019, one in 2018, 2017, and 2016.
- Complaint ratio well below the national median for commercial auto insurance.
Privacy Policy:
- Eastern Atlantic Insurance Company prioritizes your privacy, refraining from selling or disclosing personal information to third parties for marketing.
- Information is shared only with service providers and as required by law.
- Robust security measures protect against unauthorized access.
- Full privacy policy available on their website.
Terms and Conditions:
- Offers various insurance products for the transportation industry, including commercial auto liability, physical damage, cargo, and general liability.
- Policy terms and conditions detailed in the policy contract provided upon purchase.
- The contract specifies coverage limits, deductibles, exclusions, endorsements, and other provisions.
- Customers are encouraged to carefully review the contract and reach out to their agent or Eastern Atlantic Insurance Company for clarifications.
- General product information can be found on their website.
Policy Extension and Terminations
Policy Renewal Process:
Eastern Atlantic Insurance Company does not automatically renew policies; instead, they send renewal offers 45 days before the current policy expires. Customers must accept the offer and pay the premium by the due date to renew. Failure to do so results in policy expiration and loss of coverage.
Cancellation Policy and Fees:
The company can cancel policies with a 10-day written notice. Customers can also cancel anytime with written notice. Refunds are pro-rated, with a minimum earned premium of 25% of the annual premium or $500. A $50 cancellation fee applies.
Grace Periods:
Eastern Atlantic Insurance Company does not provide grace periods for late payments. Failure to pay by the due date leads to potential cancellation. A 10-day notice precedes cancellation, but payment before the cancellation date prevents policy termination.
Eastern Atlantic Company Reach-Out Information
| Category | Contact Information |
|---|---|
| Phone Number | 1-800-897-2299, (717) 561-449534 |
| Address | 5300 Derry Street, Harrisburg, PA 171111234 |
| Customer Service | – Online Form on [Website](website link) |
| – Email: info@easternatlantic.com6 | |
| – Fax: 1-717-561-449412 | |
| – Report a Claim Online: [Claims Link](claims link) | |
| – Email for Claims: claims@IADclaims.com7 | |
| Policy Details | – Commercial Auto Insurance Products |
| – Specialization in Auto Liability, Physical Damage, Cargo, General Liability Coverages | |
| – Maximum Combined Single Limit for Liability: $1,000,000 | |
| – Maximum Fleet Value: $2,000,000 | |
| – Standard Cargo Limit: $100,000 per load | |
| – General Liability: $1,000,000 per occurrence, $2,000,000 per aggregate | |
| – Customizable Coverage Options and Endorsements | |
| – Competitive Rates, Individual Risk Underwriting, Fast Policy Issuance, Quick Response to Certificates and Filings, Timely and Fair Claims Handling, Loss Control for Qualifying Accounts89 | |
| Email Address | – General Inquiries: info@easternatlantic.com6 |
| – Claims-related Inquiries: claims@IADclaims.com7 | |
| Fax Number | 1-717-561-449412, 866-239-2456 (Claims-related Documents) |
| Operating Hours | Operating hours may vary; contact the company or check with your insurance agent for confirmation. |
You also have the option to obtain coverage via;
QCC Insurance Company, Pennsylvania(PA)-A Quality Choice for Health Care Coverage
Anthem Life Insurance Company, Indiana(IN): Contact, Email Address, Claims, Reviews
Loyal American Life Insurance Company: History, Financial Strength, Products, Policyholders, Claims, and Customer reviews
