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Workers’ Comp for High-Risk Clients: If You Can’t Provide It…

May 4, 2016 | By Kimberly Hayden, Marketing/Relationship Manager, Pride Risk Solutions, Inc.

It can be an arduous task for Agents and Brokers to obtain an affordable workers’ compensation solution for businesses that have gaps in coverage are in high-risk industries and those with high experience modifiers. All to often in these cases, the State Insurance Fund is thought to be the only option and in others the insurer-of-last-resort offers a quote at a premium the client cant afford.

Pride Risk President Ralph Mencia discusses why the ability to provide a lower-cost alternative to the State Fund is a major competitive differentiator for insurance agents in today’s competitive marketplace.

Don’t Let the Competition Get a Foot in the Door

A critical component that assists Agents and Brokers with retaining existing and acquiring new clients is having the ability to provide options in the workers’ comp market. The inability to offer affordable coverage or viable alternatives to the State Insurance Fund creates an opening for the competition.

As a result, you could potentially be at risk of losing their business if this has caused them to shop for coverage or other agents are soliciting them. In addition, if another agent can deliver a cost saving workers’ comp solution you stand to lose the clients other lines of business or the opportunity to write them.

Know Your Options for High-Risk Insureds

Protect your book of business by harnessing an exclusive solution for high-risk clients that offers an alternative to the State Insurance Fund.The high-hazard workers’ compensation program powered by Pride Risk provides crucial benefits for your clients.

This specialized solution for high-risk insureds was carefully designed to ensure sustainability and the long-term interests for all parties. By being an alternative to the State Insurance Fund it provides the client with overall lower workers’ comp costs, which results in coverage remaining affordable. The clients get an experienced, committed partner with an unmatched focus of loss control and deep understanding for effective claims management.

Is Becoming a Maser Broker Agent (MBA) Right for You?

Acquire a competitive edge and access an innovative workers’ comp program by becoming a Master Broker Agent (MBA) with Pride Risk Solutions, or by working with one of our appointed MBAs.

Make a positive impact on your client’s stability through a program that has a strong underwriting appetite and can provide insurance solutions designed to fit specific risk management and financial objectives.

If you have current or prospective clients with any of the following attributes, the high-hazard workers’ comp solution can help you protect and expand your client base.

  • High Risk Business Segments
  • Experience Modifiers over 1.00
  • Cancelled / Non-Renewed Coverage / Gap in Coverage
  • Large Losses / Poor Claims Experience
  • Few or no options other than the State Insurance Fund

Contact Pride Risk today to inquire how you can begin to access this exclusive workers’ compensation solution for high-risk insureds.