Insurance Underwriters are reviewing the MCS-150

Feb 14, 2023 at 11:35 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Every two years all commercial transportation companies that hold a DOT number must update their MCS-150 filing. I want to stress the importance of making sure the information on the MCS-150 is accurate. We're getting more and more questions from our insurance underwriters asking us to verify if the commodities listed on the MCS-150 are correct. Our recomendation is to only list the commodities that are truly being hauled. Don't mark commodities with that you 'might' haul in the future. It's also important to make sure the power unit count and the miles make sense on the MCS-150. Underwriters want to see that the total annual miles on your IFTA report, are close to the miles reported on the MCS-150. Updating your MCS-150 can also reflect positively on your CSA scores. We want to paint an accurate picture of your operation to our underwriters so we can negotiate the best possible outcome the insurance market has to offer. Hope this helps. Keep Truckin' Shoot me an email with any questions - [email protected]

Feb 14, 2023 at 11:35 AM CST

Posted by a private BulkLoads.com member.

Every two years all commercial transportation companies that hold a DOT number must update their MCS-150 filing.

I want to stress the importance of making sure the information on the MCS-150 is accurate. We're getting more and more questions from our insurance underwriters asking us to verify if the commodities listed on the MCS-150 are correct. Our recomendation is to only list the commodities that are truly being hauled. Don't mark commodities with that you 'might' haul in the future.

It's also important to make sure the power unit count and the miles make sense on the MCS-150. Underwriters want to see that the total annual miles on your IFTA report, are close to the miles reported on the MCS-150.

Updating your MCS-150 can also reflect positively on your CSA scores.

We want to paint an accurate picture of your operation to our underwriters so we can negotiate the best possible outcome the insurance market has to offer.

Hope this helps. Keep Truckin'

Shoot me an email with any questions - [email protected]

Replied on Tue, Feb 14, 2023 at 01:20 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Updating your MCS-150 is really important especially from the CSA score side of things. The number of power units you have and the miles you log are used to calculate your CSA score and if this is old or wrong it could actually cause your CSA score to rise because of the old or incorrect data. Here is a post about how CSA scores are calculated and how the infomation for your MCS-150 is used in that process. This does have a direct impact on insurace rates, DOT audits/interventions and your ability to grow your fleet. https://blog.blueinktech.com/blog/explaining-csa-scores-why-do-they-matter

Replied on Tue, Feb 14, 2023 at 01:20 PM CST

Posted by a private BulkLoads.com member.

Updating your MCS-150 is really important especially from the CSA score side of things. The number of power units you have and the miles you log are used to calculate your CSA score and if this is old or wrong it could actually cause your CSA score to rise because of the old or incorrect data. Here is a post about how CSA scores are calculated and how the infomation for your MCS-150 is used in that process. This does have a direct impact on insurace rates, DOT audits/interventions and your ability to grow your fleet.

https://blog.blueinktech.com/blog/explaining-csa-scores-why-do-they-matter