Zurich`s Staffing Industry Package Policy Program

Transcription

Zurich’s Staffing Industry Package Policy Program:
The Next Generation of Staffing Insurance
ZProgramsMatch Webinar Series
May 24, 2012
1
Agenda
• Introductions: Today’s Presenters
• Industry Overview
• Appetite
• Coverage Highlights
© Zurich American Insurance Company 2012
• Submission Requirements
• Advantages of Zurich’s Program Administrator
• ZProgramsMatch.com
• Questions and Answers
2
Staffing Industry Insurance Program Specialist
Dorothy Taylor, President and Chief Executive
Officer for the Program Administrator
• Dorothy has been with the Program Administrator for
more than 30 years
• Responsible for the development and implementation of
this program, one of the most comprehensive staffing
industry insurance programs in the market today
• As a result of Dorothy’s leadership, the staffing industry is
the PA’s sole focus
3
Bob Thompson, Vice President for the
Program Administrator
• Over 20 years of experience with the program
manager
• Responsible for new business, broker relations and
workers’ compensation
• Background in sales and marketing
4
Joe DeCarlo, Senior Vice President for the
• 30 years of insurance industry experience
• Began career as a commercial casualty underwriter
• Held roles of increasing responsibility from Regional
Branch Manager to Vice President, insurance agency
producer to agency Principal
• Has been responsible for the creation and control of
insurance programs for such insurance companies as:
Zurich American, CNA, AIG, Kemper and Seneca/ Crum
& Foster
5
Zurich Program Specialist
Mike Dantone, Program Underwriter
• Serves as an underwriter within the Professional Services
profit center
• Joined Zurich in January 2005
• Responsible for other Professional Liability and multi-line
based programs
• Holds Registered Professional Liability Underwriter (RPLU)
& Associate in Surplus Lines Insurance (ASLI) designations
• Earned BBA Degree in Marketing from Briarcliffe College,
NY
•
6
Industry Overview
• For the past 25 years, the staffing industry has been in the top 5
fastest growing in the nation
• Staffing companies match millions of people to millions of jobs
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2.58 million people are employed by staffing companies every business day
Over 10 million temporary and contract employees are hired by U.S. staffing firms
over the course of a year
• 79% of staffing employees work full time, virtually the same as the
rest of the work force
• According to the most current U.S. Economic Census data available,
there were about 19,000 firms in business for a year or more during
2011. Those companies operated approximately 45,000 offices
• Large international firms to small start up firms
• Independent firms to franchisors
7
Industry Overview
(continued)
• Major portion of firms are middle market
• Services include:
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‐
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Pay rolling
Outsourcing
Consulting
Vendor management services
Managed Service Providers
Professional Employer Organizations
Various forms of consulting including human resources, risk management, and executive
search
• Many firms specialize in industry segments:
‐
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Labor
Industrial
White collar administrative
Professional placements including, but not limited to, architects, engineers,
education, financial, IT, and medical
8
Industry Overview
(continued)
• Industry is constantly evolving, offering broad spectrum of services
beyond permanent and temporary/contract labor placements
• Truly no area overlooked
• Few brokers specialize in staffing, some brokers may handle one or a
few staffing firms
• Some brokers focus on workers’ compensation only; others on AOL
• Temporary help employment is a major economic indicator
• Market is wide open = great opportunity for Zurich brokers!
9
Appetite
Staffing firms engaged in all staffing activities and industry types:
•
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Direct hire placements
Temporary placements
Professional Employer Organizations (PEOs)
Administrative Service Organizations (ASOs)
Managed Service Providers utilizing a Vendor Management System
Coverage is broad enough to encompass any staffing activity not
listed
Connect with the Program Administrator through
www.ZProgramsMatch.com
10
Coverage Offered
Each coverage designed specifically for the staffing industry
• Professional liability
• Employment practices liability
• General liability
• Automobile-Owned or just Hired/Non-owned with special
extension for temporary employees driving client vehicles
• Abusive acts
• Employee benefits liability
• Stop gap liability
• Crime
• Umbrella liability
• Property
• Workers’ compensation*
• Also available: D&O, Fiduciary, Cyber/security privacy liability
* Workers’ compensation coverage is not available for
PEOs through this program
11
Coverage Highlights
• Coverage afforded for the placement activities of a staffing firm
• Coverage afforded for the services the temporary employees provide to
staffing firm’s clients, from clerical workers to industrial workers and
professional placements – i.e. accountants, architects, engineers,
attorneys, programmers, health care workers
• General liability and professional liability written on an Occurrence
form-defense outside the limits
• General liability removes the Care Custody and Control exclusion
12
Coverage Highlights
• Designated per project limit of liability
• Blanket additional insured
• Primary and noncontributory
• Waiver of Subrogation
• Clients are insured on the Employment Practices Liability (EPLI)
• EPLI includes wrongful business environment coverage
13
Coverage Highlights
• Crime coverage for 1st and 3rd party trade secrets and dishonest acts
• True world wide coverage
• Umbrella policy occurrence coverage, includes casualty business
Expense first dollar limit of $250,000
• Umbrella can be written over: Commercial Auto, General Liability,
Professional Liability, Employee Benefits Liability, Employers’ Liability ,
and Employment Practices Liability
Ineligible risks:
• Temporary placement of physicians and dentists
14
Coverage Highlights
Coverage Limits
• Underlying up to $10,000,000 available
• Umbrella $10,000,000 and higher limits available
Geography:
• Nationwide – all states, including District of Columbia
All non-auditable policies
All admitted policies
15
Submission Requirements
All lines – (other than workers’ compensation):
• Zurich staffing service application (other carrier’s application is
acceptable)
• 3 years currently valued loss runs
• Employee manual may be required
Workers’ compensation
• Accord application
• 3 to 5 years currently valued loss runs
Visit www.ZProgramsMatch.com to request contact from the Program
Administrator
16
Benefits of Insuring with Zurich’s
• Industry specialist – staffing is our only business, sole focus for
almost 50 years
• In the 1960’s, our founder developed the first policies for the
industry; those products became the first program
• Industry expertise – no one knows the staffing industry better
than we do
• No one has written more policies or worked with more staffing
firms
• Actuarial analysis is an important part of our review, analyzing
loss experience with the intent not to exclude coverage, but
understand what happened, why it happened, provide guidance
and recommendations on loss prevention and control
17
Benefits of Insuring with Zurich’s
• Our business is to help brokers obtain and retain staffing
clients, going beyond simply offering a quote or the lowest
premium
• Our role is to find solutions
• Our alliance with Zurich is based on that – to provide
solutions to the staffing industry, allowing one carrier to
underwrite the multiple services and industries provided by a
staffing firm
18
Benefits of Insuring with Zurich
• Zurich is the powerhouse provider of insurance to the Temporary
Staffing industry
• Over 50 years of experience
• Enhanced package policy offering
• One of the largest writers of program business in the United States
• Superior claims handling:
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24/7 claims reporting capabilities
Access to experienced defense counsel
• Zurich in North America and its member companies, have received an AM
Best A+ XV (stable) rating*
*
Rating as of May 15, 2012. For more information, please access www.ambest.com. For more information
about the ratings of Zurich American Insurance Company, access the ratings section on www.zurichna.com.
For more complete financial information about the Zurich Financial Services Group and ratings for Zurich
Insurance Company Ltd., access www.zurich.com.
19
ZProgramsMatch.com
A quick, online
registration is required
for access to
ZProgramsMatch.
If you are not yet
registered for access,
just go to
ZProgramsMatch.com
and click on
“Register”.
20
ZProgramsMatch.com
Submitting a
request to a
Zurich Program
Administrator or
General Agent
through
ZProgramsMatch.com
is easy!
Begin at the
Home Page Directory
and click on
the program you
are interested in.
21
ZProgramsMatch.com
You will land on
the program
page.
For more about
the program,
or to submit a
risk, click on
Contact This
Program
Administrator
22
ZProgramsMatch Education Center
23
Archived Webinars
Make sure to check out past ZProgramsMatch Webinars at
www.ZProgramsMatch.com:
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Captive solutions
Contract litigation insurance
Day Spa, Tattoo Studio, Salon
Environmental transport
Golf and country club
Last Mile Delivery
Lawyers’ professional liability
Logging and Crane contractors
Moving and storage
•
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•
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•
Program insurance overview
Risk engineering
Roofing contractors
Security guards, private
investigators, alarm installers
Spill Response System
Temporary staffing
Travel agent and tour operator
US Longshore & harbor workers’
compensation
24
ZProgramsMatch Forum
25
Online Video, “The Contest”
26
Questions
27
Contacts and Resources
• Visit www.ZProgramsMatch.com for information about Zurich’s
Programs and to request contact from PAs/GAs.
• For general inquiries or feedback about the ZProgramsMatch site,
contact us at: [email protected]. Please do not utilize
this email box for business submissions.
• For suggestions for Webinar topics or if you have difficulty in
getting a response from a Program Administrator, contact us at:
[email protected]
28
Thank you for attending!
29
Disclaimers
This is intended as a general description of certain types of insurance and services available to
qualified customers through the companies of Zurich in North America. The policy is the
contract that specifically and fully describes the coverage. The description of the policy
provisions gives a broad overview of coverages and does not revise or amend the policy.
Insurance coverages underwritten by individual member companies of Zurich in North
America, including Zurich American Insurance Company. Certain coverages are not available
in all states. Some coverages may be written on a non-admitted basis through licensed surplus
lines brokers. Risk engineering services in the United States are provided by Zurich Services
Corporation.
ZProgramsMatch.com is a Zurich in North America sponsored Web site that serves as a tool for
agents to seek a program administrator who may have an appetite for such risks. Zurich does
not guarantee any particular outcome nor guarantee that each and every such risk will be
placed or accepted by the participating program administrator. Coverages may not be
available in all states.
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Zurich`s Staffing Industry Package Policy Program

Transcription

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