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Loss-sensitive programs
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| Do you have the desire and ability to control losses? Do you want to reap the benefits of doing that? Zurich’s loss-sensitive solutions can help you take a more proactive role in controlling losses and premiums. |
- More control – over your risk exposure and premium, with our support
- More options – access to customized solutions that address your specific insurance needs
- More flexibility – in setting up your insurance program
Zurich's loss-sensitive programs
1. Retention Aggregate Program
| Features | Benefits |
- An annual aggregate deductible applies to all insured losses.
- Your premium is reduced (relative to a guaranteed-cost program) in consideration of the annual aggregate deductible.
- All losses are reported to and handled by Zurich.
- We bill you monthly for those losses that are subject to the loss-sensitive program.
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- Our simplest loss sensitive program.
- Allows a smooth transition from a guaranteed-cost program to a loss-sensitive program.
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2. Retrospective Rating Program
| Features | Benefits |
- You pay the same “standard premium” that you would pay under a traditional guaranteed cost program.
- All losses are reported to and handled by Zurich.
- Six months after policy expiration (and annually thereafter until all claims are closed) Zurich does a retrospective rating adjustment, and you will receive either a premium credit or a charge, based on your actual loss experience.
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- Your actual premium for the policy period more accurately reflects your loss experience for that policy period.
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3. Large Deductible Program
| Features | Benefits |
- A specific deductible applies to each insured loss.
- An annual aggregate is available that can cap your total deductible exposure on an annual basis.
- Your premium is substantially reduced (relative to a guaranteed cost program) because of the large deductible.
- All losses are reported to and handled by Zurich.
- We bill you monthly for those losses that are subject to the loss-sensitive program.
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- Cash flow is improved as a result of lower premium and monthly payment of losses.
- Your actual cost for the policy period (premium plus loss billing) more accurately reflects your loss experience for that policy period.
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Specialized services for loss-sensitive program customers
Specialized Risk Management Services
- Claims Coordination
- Loss Analysis and Benchmarking
- Loss Prevention support
- Risk Management Information Systems
Multi-Location Underwriting – multiple locations are underwritten as a single account.
Multi-Location Policy Issuance – multiple locations are covered on a single Unicover® policy.
Centralized Account Management/Customer Service – all aspects of the program are centrally managed through a detailed Account Service Plan with accountabilities and timelines.
Plan Administration (finance) – provides administrative support of the Loss Sensitive plan – letters of credit, deductible plan administration and retro adjustments.
Is your business a good candidate for a loss-sensitive solution? Contact your account executive or call: 1-800-840-8842, extension 1513.
Note: Products may not be available in all states
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