Trucking companies often face limited options when it comes to insuring their fleets. This lack of capacity and market competition has contributed to sky-high prices that many businesses struggle to afford in today's challenging economic environment.

Transport Insurance Experts (BAND) is setting out to change that.

As a managing general agency and wholesale insurance broker focused on the for-hire trucking industry, BAND has experienced rapid growth in both geographic reach and agency partnerships since its inception in 2015.

Now, BAND is bringing another innovative insurance product to this sector. The organization's newly admitted truck program represents BAND's commitment to bringing more capacity to the underserved trucking insurance landscape.

This product includes auto liability, physical damage coverage, and general liability, specifically designed for small to medium-sized operations and will be rolled out through various interactions in the coming months.

"It's supply and demand," said Tyler Christensen, vice president of underwriting at BAND. "The greater number of insurers willing to provide coverage for trucks, the more opportunities arise for other insurers to diversify their portfolios and reduce concentration in certain geographic areas."

As the supply of insurance products in the market increases, it drives down prices.