Workers Compensation Insurance for Iron and Steel Workers
Novatae Risk Group specializes in placing hard-to-place Workers Compensation coverage for high-risk industries, including the iron and steel sector. Our Workers Compensation Insurance program is designed for accounts that face complex exposures, operate in hazardous environments, or have experienced challenges in maintaining continuous coverage. Whether your client is a new venture or has a history of claims, we offer custom solutions to meet their needs.
Ideal Accounts and Appetite
- MOD 1.30 or greater
- Iron and steel fabrication, forging, casting, and structural steel operations
- High hazard and tough class codes
- Blue, gray, and white-collar employee classifications
- Accounts in state pools or assigned risk funds
- Distressed accounts, lapsed coverage, or no prior insurance
- New ventures welcome
- Multi-state operations with complex exposure profiles
For example, you may be working with a steel fabrication company with a high MOD due to past injuries or a multi-state contractor handling structural steel installation. We can help you place these accounts with specialized carriers who understand the unique risks of the industry.
Coverage Highlights and Program Features
- Access to many "A" rated carriers
- Stand-alone Workers Compensation policies
- Guaranteed cost options available
- Dividend plans, retro plans, and high-deductible structures
- Integrated Work Comp solutions tailored to the account
- Custom account handling for complex risks
- Fast turnaround on quotes and submissions
Submission Requirements and Minimum Premium
- Completed ACORD 130 application
- 3–4 years of currently valued loss runs
- Details on any large losses
- Supplemental questionnaire
Minimum premium starts at $10,000, though final pricing varies by state, class code, and loss history.
Territories and Market Access
This program is available in nearly all states, including AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, DC, WV, and WI. Novatae works with both admitted and non-admitted markets, depending on state availability and account profile.
Why Work With Novatae Risk Group?
As a trusted Managing General Underwriter and Excess & Surplus Lines Broker, Novatae Risk Group brings deep market access, underwriting expertise, and flexible structuring to complex Workers Compensation risks. We specialize in high-hazard industries and provide brokers with access to competitive solutions for tough-to-place accounts. Our team is responsive, knowledgeable, and dedicated to helping you deliver results for your clients.
Do you need a Iron and Steel Workers Compensation Insurance Quote?
Send an email to [email protected] with your coverage needs or call 800-758-8113 to speak to an underwriter immediately.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for iron and steel businesses with higher MODs, prior losses, or coverage gaps. It suits fabricators, welders, structural steel contractors, and similar high-hazard operations.
Can you place new ventures or companies with no prior coverage?
Yes. Novatae welcomes new ventures and companies with no prior insurance history, provided they meet underwriting guidelines.
Is multi-state coverage available?
Yes, we specialize in multi-state Workers Compensation risks and can provide coverage across most U.S. states.
What documentation is required to submit an account?
We require a completed ACORD 130, 3–4 years of loss runs, details of any large losses, and a supplemental questionnaire.
What is the minimum premium for this program?
The minimum premium starts at $10,000, but final pricing depends on the state, class codes, and loss experience.
Need help placing an account? Connect with a market specialist.