Mack Financial Services expands insurance portfolio as commercial premiums rise

Mack Financial Services has expanded its portfolio with the launch of a new physical damage insurance program designed to help fleets manage rising costs, simplify coverage and improve long-term budgeting. 

Mack Financial Services’ (MFS) Rolling Asset Program provides physical damage coverage for every make and model in a customer’s fleet, regardless of how they are financed, Trenholm Palmer, director of insurance services and solutions at both Mack Financial Services and Volvo Financial Services, told Equipment Finance News. 

The captive financier provides financing for Mack Trucks. Mack Trucks, Mack Financial Services and Volvo Financial Services all are subsidiaries of Swedish OEM Volvo Group. 

Rising insurance rates are a greater concern for commercial fleets, Palmer said. To address this, the program, he said, offers:  

• Flat, fixed rates for up to 72 months; 

• Monthly payment options; and  

• Claims that do not affect customer rates.  

“There’s a lot happening in the truck insurance space right now that’s a challenge for business owners,” he said. “We really wanted to create a solution that fixes that cost across a multiyear term, so fleets don’t have to worry about rate increases.” 

Truck insurance premiums jumped 43.7% between 2019 and 2024, according to a July 1, 2025, report by the American Transportation Research Institute. Then commercial auto insurance premiums rose 6% year over year in 2025, according to the Bureau of Labor Statistics Producer Price Index. 

Premiums for Commercial Auto Insurance

Agnostic solutions for mixed fleets 

MFS developed its Rolling Asset Program in response to the inflationary pressures and increasing volatility in the commercial truck insurance market, Palmer said. As a result, the program accommodates mixed fleets, which often include different makes, ownership structures and financing arrangements. 

Many MFS customers operate mixed fleets, while Volvo Financial Services held a rolling 12-month penetration rate of 30% in 2025. So, most Volvo — and by extension Mack — customers have different makes, models and lenders, in addition to owning units outright, Palmer said. 

“We wanted an option that’s agnostic as to who the lender is and what the make of the truck is,” he said. “We do have a physical damage offering that is tied to financing, but we also know the reality of fleet business is that the majority of our customers operate mixed fleets.” 

MFS has seen the strongest early interest among owner-operators and small fleets, which are more vulnerable to insurance cost increases, Palmer said. 

“It’s a very challenging time for smaller businesses in trucking,” he said. “A cost increase hits their balance sheet a lot harder, and that really necessitates smart shopping right now.” 

Read EFN’s coverage of trucking bankruptcies here. 

By expanding its offerings, MFS provides dealers and customers with more insurance and waiver options earlier in the truck-buying process and serves as a more holistic solution, Palmer said. 

“We’ve really become much more than just a finance shop or an insurance shop,” he said. “We’re a place where customers can access almost everything they need under one roof.” 

Check out our exclusive industry data here.