Epic Intermediaries
Call Us: (856) 380-0217

Experts in Public Entity & Self-Insured Workers Compensation
Case Studies
Case Study 1: Northeastern County Concerned About Nursing Home Coverage

A Northeastern county was concerned about their nursing home coverage, an important component of their overall insurance program. The county was facing budget constraints, and needed to expand coverage while reducing costs. EPIC was contacted, and helped the county improve the nursing home coverage by adding incidental medical malpractice while reducing premium costs by 15% ($100,000). EPIC provided better structure to the program while securing the same $40 million in limits. This resulted in eliminating coverage gaps and reducing risk while still lowering costs.

Case Study 2: Broker Needed Insurance Alternative For Ohio Airport

A broker needed an alternative to the major insurance carriers for a large Airport in Ohio. Epic provided several creative options for this retail broker:
  • A policy covering all the vehicles and mobile equipment for the airport with an A+ rated carrier at a premium more than 30% lower than their expiring program
  • A guaranteed cost package with an A+ rated carrier at a premium more than 30% lower than their expiring program
  • A guaranteed cost package with an A rated carrier, with significantly more coverage than their expiring policy
Epic provided a creative and viable solution, and both the broker and risk manager were impressed with the solution.

Case Study 3: Oklahoma Broker

An Oklahoma broker needed an alternative to the State Fund for a large association client in Oklahoma. The broker reached out to Epic Intermediaries seeking a new approach. Epic researched the market and identified innovative options for the broker and their client:
  • Three year guaranteed rate with profit sharing
  • Guaranteed cost program with A++ carrier at a premium lower than expiring
  • Guaranteed cost program with an unrated carrier (fronted by an A rated carrier) at a significantly lower premium
The broker was extremely satisfied with these options and moved the association out of the State Fund, creating significant long-term savings for the client while stabilizing their rate.

Case Study 4: Small New England Town

A small New England town with a population of about 20,000 had a first dollar liability program in place. Their current insurance carrier raised the premium and added a $100K deductible. Their broker searched for another first dollar program but was unsuccessful.

The broker reached out to Epic Intermediaries, who provided several quotes for the town with a variety of different coverage options to meet their budget.The policy and cost analysis helped the broker and the town's risk manager navigate through a myriad of potential hurdles. Epic Intermediaries subsequently created an innovative excess program to replace the original first dollar program, potentially saving the town hundreds of thousands of dollars.

The Epic team provided detailed assistance to the insurance broker and the risk manager. The broker and risk manager were delighted with the results, both thanking the Epic team for their thoroughness and advice. Epic Intermediaries offers deep expertise in excess casualty whether it’s a large city or small town.

Case Study 5: Claims Activity Did Not Warrant Premium Increase

A retail broker representing an insurance program for a large municipality was hit with a unexpected renewal increase on July 1st, 2014. Their casualty renewal details were as follows:
  • Expiring premium was $552,000 with a $2,000,000 SIR for $5,000,000 limits
  • Renewal quoted $565,000 for same SIR and limits
  • The account had a 2 year relationship with the incumbent carrier
  • Claims activity was within industry norms which did not warrant an increase in premium
Epic prepared a comprehensive submission, leveraging their long standing carrier relationships, resulting in improved pricing and terms. Epic Intermediaries provided a 11% lower premium at the $2,000,000 SIR. The unique approach used by Epic Intermediaries and tactical collaboration with both the retail agency and the underwriters produced a much better solution for the client. The broker of record had the following to share after renewing their account: "I’m impressed!”.

Case Study 6: Northeast Broker

A retail insurance broker representing an insurance program for a large nonprofit institution was hit with a substantial renewal increase on July 1st, 2013. Their Workers' Compensation policy renewal details can be seen below:
  • Expiring premium was $165,000 with a $300,000 SIR for Statutory limits
  • The renewal terms quoted caused panic at $285,000 in premium with a $750,000 SIR
  • The account had a 15 year relationship with the incumbent, some claims activity, but within industry norms.
The broker of record had the following to share: "Due to the large increase quoted by the incumbent carrier, we decided to reach out to Epic Intermediaries. Epic pursued an innovative solution, leveraging their carrier relationships and preparing a comprehensive submission in an effort to improve the terms. Their unique approach and strategic collaboration with my agency, yielded a dramatically better value for my client. Epic Intermediaries provided a lower premium at a $750,000 SIR and an alternative option using a buy down/buffer layer of 250,000 reducing the SIR to $500,000. My nonprofit client was delighted with our efforts, rewarded with a savings of $35,000 (compared to the incumbent carrier), and also appreciated the option to mitigate the SIR. I'd recommend that other brokers faced with Excess Work Comp accounts reach out to Epic Intermediaries for creative solutions and a collaborative partner."

Case Study 7: Midwest Broker

A Midwest broker has held this municipal account for the last 10 years. This municipality with a population of 60,000 faced severe budgetary constraints and needed to reduce premiums while maintaining appropriate risk exposures. The broker contacted Epic Intermediaries to market the account, seeking creative alternatives for a cost effective solution. Expiring premium was $350,000 for 10 mil X 250,000. Epic marketed the risk to 4 selected insurers, long time partners of Epic. The results covered a broad range, with two of the four carriers offering significant savings:
  • Carrier A $432,000 with 250,000 SIR
  • Carrier B $273,000 with 250,000 SIR
  • Carrier C $325,000 with 250,000 SIR
  • Carrier D $311,000 with 500,000 SIR
The municipality was delighted with the results, and the broker received very positive feedback from the Risk Manager.

Case Study 8: Eastern US Broker

An Eastern US broker needed some creative ideas to help a municipality concerned about their rising workers' compensation costs. This municipality, like many, was facing budget constraints and needed innovative ideas to cut costs while maintaining adequate coverages. The broker contacted Epic Intermediaries for assistance. The Epic team worked their market relationships and created the following program:
  • Special payment terms, with 50% due this year and 50% due in 12 months
  • 24 months of coverage within acceptable parameters to satisfy the broker's municipal client
The result was another Epic win-win solution, a happy broker and township which addressed a budgetary challenge. Brokers and agents seeking creative solutions to present to their public entity clients should call Epic Intermediaries for a no obligation consultation.

Case Study 9: School Pool

A school pool offering Property, General Liability and Workers Compensation had been informed by their current insurance carrier that their Self-Insured Retention for Workers Compensation was going to be adversely affected due to claims.

In a panic they reached out to EPIC for alternative approaches in the hopes of finding relief.

EPIC’s team of business analysts reviewed mountains of data, posed detailed questions, then delved into claims detail with the TPA. Armed with true and valid data, Epic arranged a meeting with the TPA and several choice underwriters to showcase the pools positive profile.

As a result of collaborative efforts and teamwork Epic was able to design an excess Workers Compensation program saving the pool 40%.

Our Office: 401 Route 73 North | Suite 201 | Marlton, NJ 08053