Sub Specialty Contractor

  • 1.  Insurance renewal

    Posted 08-30-2012 10:15
    For this year's non-medical policy renewal are you seeing an increase or a decrease in your premiums?  What economic data do you use to validate your premium changes?

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    Scott Stanger
    Vice President - CFO
    Capstone Mechanical
    Waco TX
    (254) 399-8085
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  • 2.  RE:Insurance renewal

    Posted 10-18-2012 11:18


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    Bryan Duncan BS ACCOUNTING
    Controller
    WAY ENGINEERING & CONSTRUCTION
    Sugar Land TX
    (713) 512-9925
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    We actually saw a slight decrease for this policy year, which started 4/1/12.  However, we are part of a captive insurance group so our results may not be comparable to yours.







  • 3.  RE:Insurance renewal

    Posted 10-20-2012 07:41
    We are self-insured and our expected claims are staying relatively flat.  We saw a slight increase in fixed costs (reinsurance, admin fees).

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    Ron Heemstra Certified Internal Auditor
    Controller
    Interstates Construction
    Sioux Center IA
    (712) 722-1662
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    Original Message


  • 4.  RE:Insurance renewal

    Posted 10-22-2012 21:16
    PCS is has been insured Zurich NA for the last 6 years.  We have pretty clean loss runs and we were surprised by the 9% increase in our premiums year over year:  we just renewed October 1st.  We asked our broker to go to market for us.  The broker consulted 4 other companies and results were that the rate from Zurich cam in second.  There was an option that might have saved us about 0.5% but potential claims, if any, on current and ongoing work could create issues between carriers.  We elected to pay the higher rate with Zurich.  Our broker noted that with overall volume down; there is a trend for slight costs increases in the marketplace. 

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    Therese Litton CCIFP
    Pacific Construction Systems
    Bellevue WA
    (425) 462-8268
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    Original Message