Ideal Accounts and Appetite
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PRM evaluates submissions beginning at a guaranteed cost premium of $500,000; accounts exceeding $1,000,000 often receive expanded program options and carrier access.
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Most business classes are eligible, including multi-owner groups and multi-state employers. PRM reviews each file individually to match the best structure to the client’s loss profile and objectives.
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Retention levels can be structured as low as $10,000 for qualifying accounts, giving larger employers more control over their loss experience and premium funding.
Coverage Highlights and Program Structures
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Retrospective Rating Plans: For firms seeking premium flexibility and potential savings tied to actual loss experience. Available to accounts with a minimum guaranteed cost premium of $500,000.
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Large Deductible Plans: Suited for organizations with disciplined risk control that want to retain more risk in exchange for lower premiums. Typical eligibility starts around a $1,000,000 guaranteed cost premium.
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Captive Solutions: PRM has relationships with established captive facilities and can assist in forming new captives for qualified clients. Captives are an option for employers pursuing long-term, customized risk financing.
Underwriting Requirements
Minimum submission requirements:
For best quote consideration, include:
- Five years of currently valued loss runs (within 90 days of the proposed effective date).
- Four years of aggregate payroll by class code and state.
- Current experience modification worksheet, when available.
- Loss narratives and detailed reports for any losses exceeding $50,000.
Territories and Market Access
This program is available in nearly all U.S. 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, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, and WY.
Offered on a non-admitted basis, PRM’s Large Account Workers Compensation program is a fit when admitted-market solutions are too restrictive or when tailored alternative rating and financing structures are required.
Why Work With Phoenix Risk Management?
PRM specializes in designing and placing complex workers’ compensation programs for large employers. Agents benefit from PRM’s multi-carrier relationships, experience with alternative risk transfer (retros, large deductibles, captives), and hands-on underwriting. PRM focuses on aligning program structure to a client’s payroll variability, multi-state exposure, and long-term risk financing goals.
You might bring PRM a multi-state construction client with volatile payroll who needs a retrospective plan to smooth cash flow, or a large manufacturer evaluating captive options to capture long-term underwriting gains. In both cases PRM works with you to present the file to the most appropriate markets and structure the funding and reporting required by carriers.
Frequently Asked Questions
What types of accounts are a good fit for this program?
Accounts with a guaranteed cost premium of $500,000 or more, especially those seeking flexible risk-sharing structures like large deductibles, retros, or captives.
Is this a non-admitted program?
Yes. The program is offered on a non-admitted basis to allow greater customization and alternative rating options not typically available in the standard admitted market.
What industries are eligible?
Most industries are eligible, including construction, manufacturing, logistics, and other large-employer classes. PRM evaluates specialty or high-hazard classes on a case-by-case basis.
What is the minimum premium requirement?
PRM generally requires a guaranteed cost premium of at least $500,000 to consider a submission; some large-deductible options typically start at $1,000,000.
What documentation is needed to get a quote?
At minimum, submit a completed and signed ACORD application and the PRM supplemental form. For the best quotes, include five years of loss runs, payroll history, and details on any large losses.
Need help placing an account? Connect with a market specialist.