Product Description
ACE Risk Management now offers a unique product designed exclusively for buyers that have been challenged with finding an alternative to the traditional Incurred Loss Retrospective program – the Funded Deductible Plan.
This product provides a combination of program benefits, such as:
· upfront premium credit on casualty deductible policies,
· a predetermined discount for cash funding for expected losses within the deductible selected, along with
· a program agreement that outlines pre-determined adjustment intervals and loss development factors.
For clients who are either new to risk financing arrangements or more experienced with risk management tools, this product affords certainty and stability.
Minimums
· $100,000 per occurrence for Workers Compensation
· Clients that have established loss control and safety programs
Typical Client Profile
· Public and privately owned companies
· Companies unable to supply a Letter of Credit due to financial circumstances
· Companies transitioning from traditional insurance products
· Companies considering a rent-a-captive or sponsored captive approach
· Companies that may be entertaining an acquisition, spin off or divestiture
· Companies with limited staff to support insurance transactions
· Companies that need a mid-cycle alternative while in the formation of a single parent captive
Key Competitive Advantages
· Lower administration costs than those associated with a rent-a-captive or sponsored captive structure
· Guaranteed investment income credit for the life of the program
· Dedicated administration of Funded Deductible Program
· Easy to understand Collateralization Agreement
· Admitted policies issued by the ACE Group of Companies to fulfill statutory requirements
· Certificates of Insurance to evidence full coverage and limits as stated on policy
· Ability to offer bundled or unbundled claims handling options
If you want to learn more about how ACE can support your risk management structure needs, please see our Contact Us webpage for the Business Development professional nearest you.