Assurex Builders Group (ABG) provides contractors with strong risk management and safety programs an opportunity to own their insurance company, and manage their total cost of risk. This captive is designed for contractors paying $250k – $750k in their three-line casualty products: workers compensation, general liability and auto liability.
Captive (Construction) Overview
The target classes and typical risks we focus on for this program are:
Including but not limited to:
- General Contractors
- Street and Road Construction
- Excavation
- Concrete Construction
- Electrical
- Masonry
- Heavy Civil
- Mechanical
- Utility
- Steel Erection
The typical qualities we consider are the following:
- In business 3+ years
- Solid financial performance
- Good loss history (targeting top 25% performers)
- Privately held or closely held firms
- Sound risk management practices
The highlighted features of this exclusive program include:
- Control of your insurance: Greater control of risk management, claim settlements and loss control.
- Investment income returned to members: Premium paid will be invested with income going back into captive rather than insurance company.
- Retention of underwriting profit: Underwriting profit is paid out as dividends to members.
- Stable pricing of insurance: More stable pricing than cyclical market.
- Direct access to reinsurance markets: Reinsurance can be obtained at a lower cost.
- Economies of scale: Cost savings or even profits to members.
The available products we have to offer for this program are:
- Workers Compensation:
- Part I: Statutory Limits
- Part II: $1m/$1m/$1m
- General Liability:
- Each Occurrence: $1m
- General Aggregate: $2m
- Prod/C.O. Aggregate: $2m
- Auto Liability:
- Liability: $1m CSL each accident
- UM/UM: Minimum Statutory
- PIP/No Fault: Minimum Statutory
- Auto Physical Damage:
- Actual Cash Value
* Higher limits may be available based on client needs