Ark. Suggests Insurers Evaluate New Security Product

The Arkansas Department of Insurance issued a notice to insurers and other interested parties about a significant new technology in the area of truck and truck cargo security.

The Arkansas Department said it wants to make insurers aware of a new security product by the Holt Corporation of California, given the focus by the federal government on anti-terrorist activities and the continuing efforts by insurers to find new ways of reducing losses.

The truck and trailer security system, called Hoc-Loc, provides a keypad or remote satellite-initiated locking device that has the capability to lock the trailer, tractor brakes and doors from the inside and will only unlock with an authorized satellite command or keypad entered code. The system has the potential to significantly reduce losses from cargo theft and would be a significant deterrent to terrorists seeking access to large capacity tractor-trailer rigs.

The department suggested insurers evaluate this product as a risk management tool for their insureds and, if appropriate, consider offering discount insurance programs for their insured truckers who install Hoc-Loc technology. The Hoc-Loc product line can be evaluated at: http://hoc-loc.com/.

Contact Bill Lacy at the Arkansas Department of Insurance (501) 371-2800 or bill.lacy@mail.state.ar.us, for more information.