Since 1941, The Underwriters Group has dedicated itself to providing excess coverage to self-insured clients. Our experienced staff will focus solely on your self-insured workers' compensation needs. You can rest assured you will have the benefit of specialized senior level members working on your business. We pride ourselves on developing competitive solutions for your particular needs. We will provide you access to a wide variety of excess carriers, working with you closely as a business partner and advisor.
In the placement of your excess coverage, our mission is to provide your company with a quality and comprehensive program at the lowest possible premium. We accomplish this mission by:
Excess Insurance Coverage Overview:
Excess Insurance coverage is needed for either catastrophic or an abnormally large number of claims in any given contract period. Below is a quick overview of the types of coverages available.
Specific Coverage – This is basically severity coverage. A single bad accident can often result in a claim much larger than you are, for risk management purposes, prepared to pay. With Specific Coverage, you can set a "specific" retention (SIR) above which the excess policy will reimburse you up to your policy limit.
Aggregate Coverage – This is frequency coverage. With "aggregate" coverage, you can cap the losses you are responsible for during a given policy period. Once your losses have exceeded a predetermined Loss Fund, the contract will reimburse you up to the policy limit.
Specific and Aggregate Coverage – Combining the above two coverages under one contract provides both severity and frequency coverage.