Coverage targets midsize businesses paying premiums of $10,000-$250,000 per year for workers comp coverage and have been in business for three years or more.
PRODUCT: Elevate
COMPANIES: Swiss Re Corporate Solutions
BEST RATING: A+
AVAILABILITY: Swiss Re is making the product available on a “limited distribution approach."
FOCUS: Swiss Re Corporate Solutions is now providing workers compensation insurance targeting midsized businesses in the U.S. through Elevate, the company's middle market solution.
Swiss Re's solution aims to provide ease of placement for independent agents and brokers looking for a simpler and faster process in the middle market, which will be delivered in partnership through third-party administrator, Gallagher Bassett.
“With the introduction of workers comp, agents and brokers can now source most of the primary property-casualty coverages their clients need from one place," says Walt Sykes, head of middle corporate business North America, Swiss Re Corporate Solutions. “We are excited to provide this new protection as we continue to add to our suite of products and industry enhancements."
COVERAGE DETAILS: The policy offers statutory Coverage A, and Coverage B employers liability limit options of $500,000/$500,000/$500,000 or $1,000,000/$1,000,000/$1,000,000.
Other program highlights include 24/7 full-scale intake solution and contact management; fast track claims handling; claims information transmitted to appropriate adjusting office within an hour; expert review and consultation by a registered nurse, physician and allied health reviewers; access to a toll-free number to speak directly with a registered nurse; return to work management program; and dispensary and prescription services that allow access to medications free of charge at the onset of an injury.
UNDERWRITING: Swiss Re will accept ACORD or agency-specific applications. Submissions should be accompanied by a minimum of three years of currently valued loss data. All applications can be submitted to Elevate program staff.
MINIMUM PREMIUM: $10,000
TARGET: Elevate's guaranteed-cost workers comp insurance program targets midsize businesses that are paying premiums of $10,000-$250,000 per year for workers comp coverage and have been in business for three years or more. The coverage is preferably written along with property or general liability provided by Swiss Re Elevate, and the client is a better to best-in-class risk that has a demonstrated commitment to safety. Targeted industries include manufacturing, real estate, wholesale/retail, professional services and hospitality.
COVERAGE AVAILABILITY: AL, AR, AZ, CA, DC, DE, GA, ID, IN, IL, IA, KS, KY, MA, ME, MD, MI, MN, MS, MO, MT, NE, NH, NV, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, UT, VT, VA, WA, WI, WV and WY.
CONTACT: Walt Sykes, head of middle corporate business North America, Swiss Re Corporate Solutions; 212-317-5055.
Will Jones is IA editor-in-chief.
