As an insurance broker, it’s our job to explain the process of “going to market” in detail and prepare you to be in the best position for your renewal. It is equally important for start-up businesses that are getting insurance for the first time to position themselves for the best possible results.
We find that many business owners have never had this type of discussion with their broker, and it shows. For businesses that focus on tower erection, telecom maintenance, tower climbing operations, etc., this discussion is vitally necessary if you want to secure the best pricing in the market.
The process of obtaining quotes is about effectively telling your story to an insurance company. Their job is to review what they can about your business, and based on that, calculate an insurance premium they feel covers the risk they agree to assume. Depending on the type of business or sector of work you conduct, insurance companies are more risk-averse than others. Our focus here is on smaller or start-up telecom companies, especially ones that have climbing exposure. These types of businesses with this exposure typically struggle in securing workers’ compensation coverage with a standard carrier.
So, what options do you have then? If you do not work with a qualified broker that focuses on the telecom space, you may not have access to the best specialty markets. In this case, your workers’ compensation would be provided directly from the state fund, which carries a much higher rate and, therefore, a higher premium you would have to pay. You want to avoid the state fund, also known as the “pool,” as much as possible in order to save money on your work comp premiums.
Horton represents all major regional and national carriers. With these relationships, we have standard, admitted options that have a competitive appetite for high-risk occupations, including Tower Climbers (code 7600). Going this route is a much more attractive option for you versus a state fund as our partner underwriters can provide additional credits based on qualifying safety standards and acceptable loss history.
Utilizing Horton and our carrier partners brings with it a full-offering of safety services and risk management tools including:
- Operational safety assessment and enhancement plan
- Safety manuals
- Return to work program
- OSHA 10/30 training
- Training videos
- On-site safety reviews
Our role is to tell your story to best position your company for success. We explain in detail your company’s safety and risk management strategies so that underwriters view your business in the best possible light. With our exclusive partnerships that specialize in your business, insurance carriers have greater comfort and more flexibility in crafting a program that is unique to you, helping you drive down your overall cost. If you have any questions as to how this can apply to your telecom insurance program, contact Dan Galos at 312.989.1451 or firstname.lastname@example.org.
Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.