Excess workers compensation insurer Safety National Casualty Corp. said that it will begin providing large guaranteed-cost workers comp policies.
The offering targets large employers “in need of a first-dollar program,” including hotels, light manufacturing, technology, retail, and food-related companies, St. Louis, Missouri-based Safety National said in a statement on Wednesday. The minimum premium for eligibility is $750,000.
Safety National said it also will begin providing captive services by offering additional insurance capacity for captives.
“Safety National will provide support for captive programs that would like a financially stable fronting carrier and risk-sharing partner. We offer support for workers compensation, liability lines and select non-admitted opportunities,” said Tom Hebson, St. Louis-based vice president of large guaranteed-cost workers comp and captive insurance services at Safety National, in an emailed statement.
Excess insurer Safety National Casualty Corp. must pay an employer's defense and settlement costs even though an underlying negligence lawsuit against the policyholder was “groundless,” a federal appeals court has ruled.