Firm with Independent Trucking Contractors Saves $25,000 in Premium

All Risks’ Success Story: All Risks was able to help a Florida trucking firm hauling general freight with both W-2 employees and 1099 independent owner/operators, save over $25,000 per year with our Occupational Accident WC support product!

The Customer: An intermodal freight carrier in Florida, using a mix of owner operators and fleet drivers.

The Challenge: The firm had paid thousands in additional premium to their existing Workers'Compensation carrier for their independent contractors after their annual audit despite being covered under an Occupational Accident policy. They were urgently seeking a solution to reduce costs while still protecting the drivers.
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The Solution: All Risks was able to secure the freight carrier coverage for the owner operators under an Occupational Accident policy and a WC policy for the W-2 paid fleet drivers under one carrier.  A Contingent Liability policy was also added to provide the freight carrier assistance with defense costs in the event an owner operator claims misclassification and requests benefits under the WC policy.

The Results: The savings was in excess of $25,000 by placing the three coverage lines with one carrier.

Subjectivities:
  • Admitted-basis only
  • Excluded states- NY, CO, CA, NC (amongst others dependent upon carrier)
  • At least 80% of the total premium must come from the Occ Acc policy
  • No prior coverage/new venture acceptable
  • Minimum of 15 owner operators (size varies for non-trucking classes)
All Risks’ Occupational Accident Product Includes:
  • Accidental Death & Dismemberment
  • Accident Medical Expense Benefit
  • Continuous/ Temporary Total Disability
  • Contingent Liability
Other Occupational Accident classes we write:
  • Courier/Delivery
  • Home Health
  • Companion Care
  • Landscape
  • Professional Services
  • Technology
  • Consulting
  • And more!

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Legal Disclaimer: Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.