Expert underwriters help you learn how to build a Workers' Comp book, understand how to write different size businesses and how to effectively compete in the commercial insurance arena.
Important Strategies for Building Your Work Comp Book:
1) Consider the helicopter view of what makes a successful work comp book.
2) Work the balancing act between small, medium and large sized businesses needs to be part of the equation.
3) Understand the underwriting of the different sized businesses is what creates your competitive edge.
4) Presenting value added insurance solutions and competitive premiums is key to your work comp production success.
Notes for Small Business Accounts:
1) Small businesses will make up the majority of your Workers’ Comp book.
2) These small businesses are easier and faster to quote, thus building your PIF (Policy in Force) faster.
3) Watch the video to find your competitive edge with small business workers’ comp.
Notes for Medium-Sized Businesses:
1) Medium-size businesses help build a stronger Workers’ Comp premium book.
2) Consider writing policies that produce $15,000 -$50,000 in premium. (These premium size policies generate a better retention ratio).
3) Medium-size work comp business generally incurs lower loss ratios.
4) Policy premiums between $15,000 - $25,000 have an Ex-Mod assigned.
Notes for Larger Businesses:
1) Large-size businesses add fast production volume to your Workers’ Comp book
2) Greater carrier services offered for larger accounts
If you have questions about Workers Compensation insurance, reach out to us at programs@cidinsurance.com.
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CID Insurance Programs is an E&S Wholesaler specializing in commercial insurance products designed for independent and captive insurance brokers’ business client’s needs.
Our wholesale business insurance products encompass a broad range of preferred to manageable hard-to-place risks. CID Insurance has developed strong relationships with both admitted and non-admitted markets. Our commitment is to make the quote and bind process fast and easy for our retail insurance brokers.
6 авг 2024
