Sometimes the Benefit of Larger Placement is Added Bells and Whistles
But if you’re working with a strategic broker, it can also mean money back for legally-required insurance coverage.
Four entities were buying their own insurance program, spending far too much for limited coverage. EPIC built a Private Equity Portfolio Program to create much-needed leverage, and the payoff shocked everyone. After consolidating insurance programs and bringing all four entities together, the group raised its blanket limit from the $1 million each formerly received, to $10 million. It also lowered the rating rate. As a group purchase, they’re now experiencing a collective savings result of $100,000 per year. We’re expecting to see a Workers’ Compensation dividend of up to 20% of the Workers’ Compensation premium.
That’s significant cost savings.
At a time when companies need it most.
On top of the money saved, we were also able to include coverages neither entity had ever experienced. Coverages and resources that companies all need to consider in the current climate. If you’re not benefiting from these today, we highly recommend you reevaluate your program, or at least ask if your current broker can provide these at no additional cost to you:
- Built-in sexual abuse and molestation coverage
- Legal contract review for all insurance matters
- Dedicated Claims Team and Engineering Consultants
- Group Health Concierge Service
- Compliance Consulting Alerts and Regulatory Notices
Each of these were added into the program as essential coverage and support EPIC now offers the group.
Principal – New York, NY
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