What we do:
Berkley Re offers excess of loss treaty reinsurance for workers’ compensation. We focus on developing strong comprehensive service relationships that help clients manage their workers’ compensation business.
A critical difference between Berkley Re and our competitors is our proactive, collaborative approach to helping our clients manage the cost of claims within their reinsurance retention.
Services:
- “Total cost of risk” approach to managing workers’ compensation risks from the ground up
- Predictive analytics to identify under-reserved, problematic claims for proactive intervention
- “Best-In-Class” catastrophic claims management services including settlement consultation
- Vendor discounts for medical centers of excellence, pharmacy benefits management, and functional restoration
- Medicare Set-Aside arrangements
- Actuarial class code analysis
- Monthly web events
Capacity:
- Workers’ Compensation: $10,000,000 capacity per occurrence
- Single-person exposed XOL program limits up to $20,000,000 (No MAOL)
- Employers Liability: Typically $1,000,000–$2,000,000
- Minimum attachment point: $1,000,000 depending upon exposure, experience, and company size.
Target companies:
Small/medium regional and mutual insurance companies with between $10M and $250M in subject premiums. Minimal NCCI HG F&G exposure. Carriers with strong financials and centralized underwriting. Higher layers will be considered for larger companies.
Data requirements:
To begin the review process, we require the following:
- Payroll by class code by state with the corresponding workers’ compensation premium for each historical contract period and the upcoming period (5 years minimum)
- Claim detail on large losses
- Ground up loss run, including claims closed without payment (5 years minimum)
- Risk concentration data comprised of the number of employees and/or payroll by location address or zip code
How we are different:
We use a “Total Cost of Risk” approach. We provide our clients with excess of loss risk transfer solutions and we also help our clients minimize the cost of claims within their retention. We leverage our proprietary database and analytical tools, as well as our deep experience in underwriting and claims handling, to help our clients reduce their net cost of claims.
Being a Berkley Re client means you will have access to best-in-class claims management and cutting edge analytics to run your workers compensation business successfully. As a Berkley company, we live and work by our guiding principle: “Everything counts. Everyone matters.”
Workers’ Compensation Treaty Team:
