As if learning that an employee was involved in an accident on company time isn’t alarming enough, what happens when you find out the at-fault driver doesn’t have coverage or is underinsured?
While most states require drivers to maintain auto insurance, according to recent study by the Insurance Research Council (IRC), one in eight motorists remain uninsured.
The IRC study indicates that the magnitude of the uninsured motorist problem varies widely from state to state. Uninsured motorist (UM) and underinsured motorist (UIM) are coverage options added to your commercial auto policy for transferring risk in such unfortunate circumstances.
Coverage Overview
In the event a driver or passengers are injured due to the negligence of an uninsured or underinsured driver, you may seek compensation for injuries and damages through the UM and UIM portions of your policy:
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