IPSI's All Lines Aggregate Program, traditionally tailored for municipal and public entity business is now available for Commercial Accounts and is a uniquely cost effective alternative to conventional insurance plans.
The cyclical nature and dramatic price swings of today's marketplace makes budget stability very difficult. In a "protected" self-insurance program, a significant portion of a risk's costs are developed in the self-insured segment, therefore not subject to these swings.
Further protection can be provided in the form of optional specific and aggregate stop loss covers so as to identify the maximum combination of insurance and loss costs in each policy period, while allowing immediate benefit from any unspent usual and expected loss costs.
We can, therefore, budget accurately the maximum costs of your client's insurance program with no limit as to the amount of potential savings.
Our Combined Aggregate product is a tailor made package which blends risk retention, risk transfer and customized claims handling in a framework which effectively manages insurance costs and coverages.
The Insured realizes immediate savings through the improved cash flow that results from not paying away the self-insurance portion of the package as premiums to insurance companies. Long term savings through aggressive loss control then causes a further reduction in both the volume and value of recurring losses.
Claims procedures, defense counsel selection, and claims settlement authority can be tailored to fit the insured's desired level of participation rather than being obliged to follow methods mandated by an insurance company.
Our current "A" rated market capabilities include:
· Admitted Product
o General Liability and Automobile Liability Coverage Parts
o Ability to aggregate a combined GL and Auto Stop Loss.
o Minimum AL & GL deductibles starting at just $10,000
o Property Coverage also available
Ideal for accounts with light to moderate casualty risk, and non cat property exposures that are looking for a package product on admitted paper with low deductibles.
(If an admitted approach is required, and an aggregated stop loss is requested, then partial automobile deductible collateral maybe required. )
· Non-Admitted Product
o Property, General Liability and Automobile Liability Coverage Parts
o Ability to aggregate a combined GL, Auto and Property Stop Loss.
o Minimum $50,000 Self Insured Retention
Ideal for accounts with light to moderate casualty risk, and non cat property exposures that are looking to access a loss sensitive program while still enjoying the "package" approach of traditional insurance.
(Many states require that automobile coverage be written on an admitted basis or an insured be "qualified" as a self-insurer. IPSI can assist in providing resources and options to fulfill your client's statutory requirements.)
