The ongoing pandemic has proved challenging for businesses in many ways, including the potential for an increase in occupational illnesses. While many businesses have transitioned to remote working models in order to promote social distancing, it is not necessarily an option for occupations across the board. Aviation, transportation, hospitality, construction, manufacturing, retail, distribution, and sharing economy workers, among others, may still be working in close quarters, which could put them at greater risk of exposure to the virus through contact with customers, coworkers, and others. Public safety workers, first responders, and medical professionals face similar concerns, along with the added risks presented by working in direct contact with COVID-19 patients.
All Risks, Ltd., the largest independent owned wholesaler insurance broker in the U.S., has been an industry leader and a partner to agents since 1964. Our strength lies in finding solutions to place a wide variety of tough accounts. While the majority of Workers’ Compensation carriers are scaling down production within industries like transportation, hospitality and medical, All Risks has the ability to offer exclusive proprietary WC Specialty products.
The demand for access to WC markets for underserved industries is what drove All Risks to develop a Workers’ Compensation Specialties sub-unit, within their existing WC department, in July of 2013. Prior to this, the only alternative was the assigned risk or state fund, with higher rates, no customer service and no commissions to our partner agents.
The benefits of All Risks Workers’ Compensation Specialty Products:
- Exclusive WC programs
- Top admitted markets
- Competitive commissions
- New ventures eligible
- WC Specialty classes can be written nationwide
- Preferred rates
- Flexible payment options
- Monthly self-reporting available
- Responsive WC underwriters dedicated to state territories
All Risks’ WC Specialties group is led by Chris Smith, a Workers’ Comp industry leader with over 30 years of underwriting experience. Chris spearheaded the identification of specific underserved classes that could be written profitably using solid underwriting criteria, along with strong marketing, i.e. direct marketing visits, attending industry conventions to identify key underserved niches. By the end of 2019, the All Risks Workers’ Compensation department wrote over $120 million in premium with $9.1 million of this premium in WC Specialties. Fortunately, this department is well-positioned to support the industries hardest hit by the current COVID-19 pandemic.
All Risks’ Workers’ Compensation Specialty products include:
- Trucking (Transportation)
- Restaurants with Delivery (Hospitality)
- Home Health Providers (Medical)
- Non-Emergency Medical Transportation /NEMT (Medical)
- Auto Repair and Service
- Waste Management
- And more!
There is much discussion right now on the impact that COVID-19 will have on Workers’ Compensation moving forward. All Risks' exclusive, proprietary WC Specialties have positioned us as a valued partner within the insurance industry and allows us to provide a solution to underserved verticals, especially during these uncertain times. If you are an agent currently looking for WC coverage for operations or classes of business considered hard-to-place within the standard market, reach out to our WC experts today.