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Managing and Insuring Automobile Risks

posted Feb 13, 2013, 2:09 PM by Bryan Berson   [ updated Sep 13, 2014, 6:16 PM ]

A company may own a fleet of vehicles, supply some employees with a car as part of their compensation, or cover the cost a rental for a business trip.  Accidents can result in personal injury and medical expenses, long-term disability, death, and property damage. Thus, organizations should develop a system to manage and insure automobile-related risks.

First, to the extent possible, they should eliminate and avoid risk.  For example, an employer that allows its employees to drive a company car or rent one at the company’s expense might require the driver to take a defensive driving course and follow traffic laws.  The company should properly maintain its fleet and purchase cars with safety features (e.g., anti-lock breaks, airbags).  Remaining risks must be insured.

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