It is common knowledge that insurance has existed since the dawn of time. It is, in fact, a feature of our current society. Every sector of the global economy is affected. Insurance, they say, is a nation’s wealth, and it has saved countless lives, providing individuals with the reason to live and recover quickly through difficult circumstances.
Hereford is a great choice in the New York City area if you operate a business and need an insurer for hire drivers. They offer competitive prices and coverage, as well as simple online capabilities such as bill pay and claim reporting.
This article is structured to put you through all you need to know about the Hereford insurance company, and all they do, includes the services they offer so you can make an informed decision.
Overview of Hereford insurance company (HIC)
Hereford is a New York City-based auto insurance firm founded in 1994 that provides coverage for hire drivers.
Hereford Insurance is a New York-based company that specializes in commercial and corporate insurance. They do not provide personal services.
They have been the exclusive insurer of the New York Independent Livery Drivers Benefit Fund since its inception.
Hereford insurance caters to the New York hire transportation sector, meeting all of client requirements. TLC requires Commercial Auto Liability, Workers Compensation, and Physical Damage coverage from Hereford Insurance Company.
What is the mission of the Hereford insurance company?
Hereford Insurance Company’s objective is to be a leading provider of high-quality products and services to all of their clients in the livery transportation sector.
They are well-versed in the ever-changing landscape and take pride in continually growing to meet your needs.
HIC is a customer-focused organization that listens to their clients with an open mind, responds quickly and fairly, and provides prompt, professional service.
They are committed to innovation and continue to make all of their procedures extremely automated.
They also work hard to attract and keep the best personnel by establishing a stable work environment in which everyone is treated as a valued member of the Hereford team.
Not only does Hereford Insurance Company continue to grow and extend its employees, but it also expands the services it provides to the sector.
Their main goal is to give excellent service, open lines of communication, a thorough awareness of the industry’s nature, as well as the manpower to meet your needs, and the ability to work with them effortlessly.
They feel that by focusing on these characteristics, HIC will be able to continue to exceed your insurance carrier expectations.
What does Hereford insurance company offer?
Hereford Insurance Company (HIC) provides Workers Compensation and Commercial Auto Liability to the transportation industry in the New York Metropolitan area.
HIC specializes in TLC insurance for drivers of all major app companies (such as Via, Uber, Lyft, Juno, Gett, and others), as well as Black Cars, Car Service, Livery, Yellow Taxi Medallions, Green Cabs, and Paratransit.
With a focus on experience and industry understanding, they hire their own underwriters, claims adjusters, special investigations unit, legal team, and IT unit. They ensure that their underwriters, claims adjusters, and broker partners all have extensive experience.
This experience coverage allows the insurance business to give a service to the industry that helps many drivers earn a decent living and, as a result, provides a valuable service to New York City.
Hereford Insurance guarantees that their underwriting staff has established knowledge in this sector of the transportation industry, giving the insured peace of mind that the carrier would deliver excellent service and coverage.
Their claims adjusters, in particular, have the expertise needed to handle claims effectively and efficiently from start to finish.
How does the insurance company manage fraudulent claims?
Any conduct intended to defraud an insurance process is considered insurance fraud.
It occurs when a claimant tries to get a benefit or advantage to which they are not entitled, or when an insurer refuses to pay a benefit that is owed to them.
Premium diversion, fee churning, asset diversion, and workers compensation fraud are among the most common scams, according to the US Federal Bureau of Investigation.
False insurance claims are those that are filed with the objective of defrauding an insurance company.
Insurance fraud costs insurers $80 billion each year, according to the Coalition Against Insurance Fraud.
After that, the cost is passed on to the insured and the broader public.
The Hereditary Insurance Company developed a Special Investigations Unit to prevent fraudulent claims from their clients, which aids in the battle against insurance fraud in the transportation business.
They have a department made up of investigators with extensive investigation and law enforcement backgrounds.
They are also committed to combating false insurance claims.
Hereford maintains communication with the NYPD, as well as all federal, state, and local law enforcement agencies in the pursuit of these bogus claims, to ensure effective handling of these crimes.
Hereford is also members of the NYAAIF (New York Alliance Against Insurance Fraud) and the New York Anti-Car Theft and Fraud Association, Inc. (NYACT).
To keep everything in check, they collaborate with the New York State Department of Financial Services Insurance Fraud Bureau and the Office of the Workers Compensation Fraud Inspector General.
Every day, they make progress in combating false insurance claims thanks to this combined effort.
Hereford insurance Policy; what do they cover?
The Hereford Insurance Company offers a wide range of coverages. They only insure hire riders who operate within the Network; they do not insure general drivers.
HIC insures all of them (including Via, Uber, Lyft, Juno, and Gett) in New York, and are also known as Rideshare Companies or Transportation Network Companies.
Hereford Insurance provides auto insurance to for-hire drivers in New York City such as:
- Yellow Medallion Taxicabs
- Luxury Limousine Drivers
- App-Based Drivers
- Black Car Drivers
- Street Hail Liveries (Green Cabs)
- Paratransit Services
- Community Car Services (Livery
- tApp Based Companies
Black Car Services
Black cars provide pre-arranged, contracted service, usually via smartphone apps or corporate client agreements.
A black car base or dispatch service provider must be linked with and dispatch vehicles.
Once every two years, the NYC TLC inspects black automobile vehicles.
Community Car Services (Livery)
A non-medallion four-door private passenger vehicle, other than a black automobile, that seats six or fewer people that operates from a TLC radio base.
Throughout New York City, Community Car Service Bases provide pre-arranged transportation.
These bases range in size from tiny neighborhood-based operations to huge fleet-type companies that serve the entire city.
Luxury Limousine Services
A non-medallion luxury four door sedan seating six or less, other than BLACK CAR, dispatched by a two-way radio or computer, operating from an authorized and licensed Taxi and Limousine Commission ( TLC ) radio base, and accepting vouchers, cash, or corporate accounts.
Yellow Medallion Taxicabs are the official taxis of New York City. There are currently about 14,000 licensed taxicabs and they provide transportation for passengers via street hails.
Street Hail Liveries (Green Cabs)
Street Hail Liveries began providing additional street-hail, e-hails, or pre-arranged service in the outer boroughs and Manhattan above East 96th Street and West 110th Street.
Paratransit vehicles often provide transportation for medically related purposes. Vehicles must be dispatched by a paratransit base. Most of the service takes individuals to and from health care facilities.
Workers Compensation coverage for the for-hire industry has been provided by Hereford Insurance since 1994.
For nearly a century, New York has had a no–fault workers’ compensation system.
People who are injured on the job are covered by the workers’ compensation system, which provides medical treatment as well as weekly financial benefits.
Loss Control Program
The Loss Control Program at Hereford Insurance is designed to assist participating radio groups in developing and maintaining a robust and effective loss control program for their associated drivers.
Our loss prevention program aims to keep our insureds and their passengers safe.
The Hereford Insurance Company Preventable Accident and Safety Guide (HIC-PAG) is issued to all participating radio groups to help them review accident prevention practices with their affiliated drivers.
Livery Driver Benefits
The New York Independent Livery Driver Benefit Fund was created in order to solve the decades old problem of whether and how to provide workers’ compensation benefits to livery drivers.
The Purpose of the Livery Fund is to provide workers’ compensation benefits, under certain circumstances, to livery drivers who operate vehicles that receive dispatches from livery bases that are members of the Fund.
How much privacy do you have with Hereford insurance Company?
Your privacy is of paramount importance to Hereford Insurance Company (HIC). They are devoted to maintaining your privacy and the security of your personal and financial information, and they treat your personal information responsibly.
Protecting the confidentiality of personal and occasionally sensitive personal information is a high priority for the Hereford company as a provider of products and services that require it.
HEREFORD INSURANCE COMPANY
36-01 43rd Avenue, LIC, NY 11101
In New York City, the Hereford insurance company protects for-hire drivers. As a for-hire driver, they provide customizable choices to best suit your company needs. Their coverage is adequate for the price, and they provide access to a variety of online resources.
Their main purpose is to display their fundamental values of communication, integrity, critical thinking, creativity, and result oriented in every connection with their consumers.