Premier protection and comp stability.
For small and mid-sized businesses.
Workers compensation represents a significant expense for every business, with managing costs a critical consideration. In addition to offering a number of workers compensation alternative risk programs, Artex also provides Guaranteed Cost Programs that maintain the same standards for carrier rating, risk selection and underwriting that we employ with our other programs. In addition, we offer unbundled loss control and claims advocacy to assist insureds in achieving long-term rate stability. These programs are ideal for small and mid-sized clients.
Guaranteed Cost is a proactive rating plan with the insured paying a flat rate up front. The rate is not subject to actual loss experience during the policy period. The policy is rated using estimated payrolls applied to rates developed by the insurance industry and adjusted with the individual’s risk experience modifier. The premium might be further modified by a discount, the use of small deductibles and flat dividend percentages (calculated regardless of the loss experience for the policy period). If the client has a number of claims during the policy period, however, the rate will increase the following year, which is why a strong safety program, proactive loss control and effective claims management are so critical.
We offer several successful Specialty Guaranteed Cost Programs:
- Artex Light: Workers compensation is the primary focus in this program with auto liability and general liability also available. The national program is ideal for clients with a target premium of between $150,000 and $1 million. Artex Light is open to a broad range of industries, including contractors, food service, healthcare, hospitality, manufacturing, property management, transportation and wholesale/retail distribution.
- Staff Guard: Our guaranteed cost program is designed to accommodate the specialized workers compensation needs of the Temporary Staffing industry, with a broad appetite for risk within clerical, light industrial and healthcare. A national program, Staff Guard is a good fit for clients with a premium of $100,000 and up.
- Nonprofit: Available on a national basis, this program is designed to respond to the workers compensation needs of the nonprofit industry, including those in education, health, consumer protection, employment, food, housing, human services, daycare, philanthropy, research, and public/society benefits, among others. Target premium is $25,000.
