The team at One80 offers a captive designed for contractors providing its participants with control of their own risk management programs and insurance. By bringing preferred risks together into a shared alternative risk vehicle, the captive can reduce your long-term cost of risk while protecting your resources and profits. 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