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The Insurance Shop specializes in helping businesses
across the country find smart solutions for their workers'
compensation insurance needs. Our nationwide presence and our
ability to write work comp insurance for both direct consumers and
other insurance agencies offers us the advantage of representing
more insurance carriers than most other agencies.
The fact is that most insurance carriers require a
minimum premium volume on an annual basis in order to maintain an
agency contract with them. For example, many carriers require
each agency/producer to write $250,000 of new premium per year.
Many smaller agents and brokers simply can't produce enough new
premium on an annual basis to meet these carrier requirements.
Therefore, most agencies only have a few markets in which to shop
workers' compensation insurance.
Workers' compensation carriers often increase and
lower work comp rates.
When a carrier has too much premium from a particular business
industry or segment, they will raise rates for those related
class codes in order to "rebalance" their total premium.
Inversely, if they have too little premium from a profitable industry
segment they will lower rates for those classes of business in order
to balance their total premium and maximize profitability on
premium.
As a result, having more markets or carriers
available helps ensure that one of our carriers currently has an
appetite for any given business type of industry segment.
The Insurance Shop is unique in that we have created
an environment for both retail consumers and agents/brokers to
access workers' compensation markets otherwise unavailable to them
through most retail outlets. Our volume of premium written
with each of our carriers makes it possible for us to establish and
maintain market depth which ultimately adds value for the end
consumer. And our knowledgeable and friendly staff make us
easy to do business with.
At The Insurance Shop, we continue to work with our
carriers in an effort to simplify workers' compensation insurance
and help make it more affordable and predictable. Choose a
link below to learn about a few of our programs:
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