W.R. Berkley ( WRB ) Q1 2013 Earnings Call April 24, 2013 8:30 AM ET
Good day, and welcome to the W.R. Berkley Corporation First Quarter 2013 Earnings Conference Call. Today's conference is being recorded.
The speakers' remarks may contain forward-looking statements. Some of the forward-looking statements can be identified by use of forward-looking words, including, without limitation, believes, expects or estimates. We caution you that such forward-looking statement should not be regarded as a representation by us as future plans, estimates or expectations complemented by us will in fact be achieved. Please refer to our annual report on Form 10-K for the year ended December 31, 2012, and our other filings made with the SEC for a description of our business environment in which we operate and the important factors that may materially affect our results. W.R. Berkley Corporation is not under any obligation and expressly disclaims any such obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Businesses with employees that operate a motor vehicle for business purposes can cut down risk and lower operating costs low by obtaining Motor Vehicle Records when screening prospective employees. By identifying high risk drivers, Motor Vehicle Records can provide your customers with the information needed to improve safety and reduce liability and insurance expenses. In addition to pre–employment screening, industries can use these records for underwriting and rating of personal and commercial automobile insurance.
Our Motor Vehicle Record Report Includes: is a monthly online Driver Monitoring Service. This report highlights invalid drivers, recent citation activity, and drivers that have current or forthcoming license renewals. Management will automatically receive the Fleet Monitoring Update Report every month in an easy to read format with a summary of monthly citation activity. CDLIS allows employers and their agents to comply with FMCSA requirements (§ 391.21-391.27), by searching within the “Commercial Driver’s License Information System” for any prior licenses, current CDL, and up to three prior licenses held by said individual.
Anyone who has had to screen for any sort of driving position knows that some drivers tend to have, let’s say, foggy memories. When people are not honest to their insurance agent, it usually results in a rate increase or even a cancelled insurance policy. With commercial drivers, the consequences of hidden violations – from a speeding ticket or accident up to an undisclosed CDL — can be disastrous to an employer. Among other things, the Commercial Motor Vehicle Safety Act of 1986 made it illegal to hold more than one commercial license, and states are required to adopt testing and licensing standards. Search Fee $14.95.