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... walkways, highway overpasses, or bridges over water, this program provides th...

From culverts and driveways to major interstates and highway overpasses, Novatae Risk Group offers a tailored Workers Compensation Insurance solution designed specifically for bridge and road construction contractors. Through Empire Underwriters, a division of Novatae, agents can access a flexible and robust program that meets the complex needs of infrastructure and roadway contractors of all sizes—from small, local construction firms to large, multi-state operations. This program is an excellent fit for agents looking to place challenging or high-hazard construction accounts. Whether your client is a new venture, has a high MOD, or is operating in a state pool, Novatae can help provide competitive options through a wide network of carriers and risk management solutions. Ideal Accounts and Appetite Experience Mod of 1.30 or higher High hazard and tough class codes Blue, gray, and white-collar construction operations Accounts currently in state pools or funds Distressed, lapsed, non-renewed, or cancelled policies New ventures welcome Multi-state operations are a specialty You might have a client whose road construction company recently expanded into multiple states or one with a lapse in coverage due to claims activity. These are the types of accounts that this program is built to support. Coverage Highlights and Program Features Access to many “A” rated admitted and non-admitted carriers Stand-alone Workers Compensation policies Guaranteed cost, dividend, retro, and high deductible options Integrated workers comp solutions and custom account handling Fast turnaround on submissions This program is designed to deliver flexible underwriting and fast broker service, helping you retain or grow your book of business in the heavy construction sector. Submission Requirements & Minimum Premium Completed ACORD 130 application 3–4 years of loss runs Details on any large losses Supplemental questionnaire Minimum premium starts at $10,000, depending on the risk profile and state. Territories and Market Access This Bridge and Road Construction Workers Compensation Insurance program is available in most states, including but not limited to CA, FL, TX, NY, and IL. Novatae Risk Group works with a wide range of carriers (varies by state) across both admitted and non-admitted markets. Why Work With Novatae Risk Group? Novatae Risk Group, through Empire Underwriters, offers deep expertise in high-hazard workers compensation risks. As a Managing General Underwriter and Excess & Surplus Lines Broker, Novatae provides agents with access to markets and underwriting flexibility not always available through standard carriers. Whether you’re looking to place a tough risk or offer your client more competitive options, our team of experienced brokers is ready to assist. Please contact us at 800-758-8113 to speak to our experienced brokers about your Bridge and Road Construction Workers Compensation Insurance accounts. Do you need a Bridge & Road Construction 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 targets bridge and road construction contractors, especially those with high MODs, tough class codes, multi-state operations, new ventures, or distressed coverage histories. Is this program available for new construction businesses?Yes, new ventures are accepted. The program is designed to support both established contractors and startups in the bridge and roadway construction industry. Are multi-state risks eligible?Yes, one of the strengths of this program is handling accounts with multi-state exposures. It's especially suited for contractors operating across several jurisdictions. What documents are required to submit an account?You’ll need a completed ACORD 130, 3–4 years of loss runs, details on any large losses, and a supplemental questionnaire. What is the minimum premium for this program?The program typically starts at a $10,000 minimum premium, but this may vary depending on the risk and state. Need help placing an account? Connect with a market specialist.

Banks And Insurance: Bridging The Culture Gap
If you don’t acclimate yourself to the idiosyncrasies of banking culture, you might find yourself pulling your hair out as you try to work with a bank. This document by Fred Dent provides a comprehensive list of contrasts between banks and insurance agencies. The cultural differences between banks and insurance agencies are significant. They’re the real issues that you’ll have to manage if you’re considering a relationship with a bank. A frank discussion of these differences will improve your chances of success. It might cost you some time and money, but the pain will be less in the long run. Banks aren’t sales driven. They engage in a sophisticated form of risk management by making 'small risk' loans. Most bank boards are very slow to change. You might find their processes difficult to understand, particularly when compared with the workings of an insurance agency. Bank leadership doesn’t understand how insurance agency owners and operators are compensated. They’re astonished when they find out that many agency principals make more than $100,000 annually — more than many bank presidents. They also fail to recognize that agency commissions of 10%-15% are for smaller amounts. Bankers often work on a spread of 5%-7%, so they see the higher percentages of agencies as a real opportunity. It takes a while to understand that banking institution loans are usually for much higher amounts than insurance premiums. Banks undergo significant regulatory overview. Agents don’t fully understand the extent of the regulators’ authority. It’s very difficult for banks to get their staff to buy in to what they feel are added responsibilities. Most bank employees I know feel overworked and underpaid. Putting bank employees through a comprehensive licensing program is essential to the success of a joint venture. But it can be difficult to initiate and complete. Bank employees must complete reports on everything from accounting transactions to deposits and loans. Many banks have sophisticated cost accounting systems that emphasize cutting costs, rather than making sales. Insurance professionals understand that the sales process can be expensive. Your banking counterparts might not. Bank leadership has probably never experienced an insurance company levying production requirements. Most bankers understand the requirements of risk management underwriting. But they’ll have a hard time dealing with the rejection of a Commercial client — with whom they enjoy a favorable relationship — due to the difficulty of writing their requested class of business. When bankers hear 'the market' they think of their customers, not whether an insurance company will take a look at their prospect. Their potential for substantial financial loss leaves banks scared to death of making Errors & Omissions mistakes. They also dread having to tell a bank/insurance customer that their claim might not be paid. Agents must emphasize E&O as a second line of protection. The first line is quality control training in the agency. Banks typically don’t emphasize continuous training for their employees. You’ll have to explain the various states’ continuing education and the benefits of this training in terms of sales, understanding policies, and preventing E&O claims. I know of some agents who profited by selling their agencies, but left soon after because bank practices drove them crazy. It’s relatively easy to understand that banks function more like insurance companies than like insurance agencies. Discuss these issues up front. It’s better to address the differences early in the negotiations than to have the negatives overwhelm you after the relationship is cemented.

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Bridge the Gap: Between Affordable Health Coverage and Quality Benefits With consistent annual increases in the cost of health insurance, employers and employees are continually faced with making benefit decisions to help control costs—none of which seems too appealing. Pay more or compromise benefits. That’s it in a nutshell. There is a gaping canyon between what is affordable and what is beneficial. And now is the time to fill that gap. The affordable solution is called KeyGapTM. A bridge over troubled health insurance waters, KeyGap is a group insurance program that is primarily designed to cover deductibles, co-insurance and co-payments for which you are responsible. More importantly, it gives you the ability to maintain quality health coverage by choosing a higher comprehensive major medical total out-of-pocket health plan. KeyGap, working along with your major medical program, provides you and your employees’ quality healthcare that is affordable. What can KeyGap do for You, Your Clients and their Employees? -Lower overall Medical Premiums -Stabilize annual Medical Healthcare Premiums for Multiple Years -Improve Employee Plan Benefits -Assist Employees with High Deductibles and Co-Insurance Expenses -Over 90% of the Employees may Experience Better Healthcare Benefits