Apex Services helps employers review their workers' compensation insurance premiums and experience modifications as well as all other premium factors, adjustments and calculations. Our clients are medium, large and Fortune 500 companies across the United States. Some of the industries we have had major success with are health care, construction, manufacturing, staffing and transportation. We work with agents, brokers, employers and their risk managers, HR directors and finance teams, etc. to perform in-depth premium reviews for any company with premiums starting at around $100,000 or more

apexservices

Lower your Experience Modification factor for the previous and current years. Your experience modification is a ratio that compares your companies losses to the industry average. If your experience mod is high, you should get it reduced. The lower your Experience Mods, the lower your premiums will be. The lower your overall costs will be. Don’t just accept your experience mod number in your policy, review it to see if there are overcharges. Check your workers compensation experience modification records for the current year and up to six years prior and keep future savings. To obtain the maximum refund, hire a firm to recover overpaid workers comp premiums. Only pay if you get money back. No Recover, No Fee. Find and recover premium overcharges in workers comp policies, current and past. Premium Review Firm who lower employers Workers Compensation insurance premiums without changing agents, brokers or carriers. We find & recover Workers Comp insurance premium overcharges for employers in current and past policies. We do not sell insurance. Independent Review Company specializing in recovering previous workers compensation overcharges and reducing current premium costs. Workers compensation premium recovery audits will help you review, recover and refund overpaid Insurance premiums. Analyze actual audits for premium overcharges. By reviewing your past and current loss records, premiums, workers compensation class codes and your experience modifications. Recover Premium Overpayments Up To Six Years Prior and reduced your workers compensation annual insurance costs. Workers Compensation insurance review, Workers compensation premium audit, Workers compensation overcharges, Workers compensation refunds, workers comp refunds, workers compensation audits, workers comp audits, workers compensation premium recovery, workers comp premium recovery suspect your experience modification factor is high and want to recover overpaid premiums or reduce your workers compensation costs, get your current and prior 6 years policies reviewed for overcharges.

More>>

On occasion an insurer might not be allowed to accept an insurance risk (e.g. it might not be authorised to accept business in that jurisdiction or it might be authorised only to write reinsurance rather than direct insurance). In such event it (or the broker involved) might arrange for an authorised insurer to "front" the business, which is then ceded to the initial company as a reinsurance. The "fronting" insurer is remunerated by way of a fee (which is generally in the form of an over-riding commission on the premium). The practice of providing fronting capacity has one major pitfall which is that the fronting insurer is liable to the insured for the whole of the exposure. This could be a problem in the event that the reinsuring company cannot or will not pay a claim.

A situation where one insurer issues policies and reinsures all or substantially all of the risk to another insurer. Fronting typically is used in jurisdictions where the reinsurer is not licensed to do business.

The practice, in reinsurance, of the ceding company retaining only a small portion of a risk and ceding the remainder to a reinsurer.

Fronting is the leasing of authorized insurance policy forms in individual states. Sponsoring carriers may elect to assume all, part, or none of the risk being assumed. Fronting carriers may, or may not act as reinsurers on the program. A fronting and reinsurance assignment is typically a program of transferring over an existing book ($2+M) of insurance into an existing authorized policy form, thus creating new market for risk. These programs are established to create or grow strong books of business, and to share in underwriting profits. Assumption of risk by the sponsoring agency is usually required to assure a true risk partnership and comfort reinsurers.

The issuance of insurance policies by an insurer as an accommodation to another insurer. Usually, the insurer providing the fronting facility cedes all or substantially all the risk, as well as a significant percentage of the premium, to the insurer being accommodated. This device often is used to enable an insurer to underwrite risks in a jurisdiction in which it is not licensed.

Most commonly refers to the practice of a non-admitted insurer (or an insured with a captive insurance company) contracting with a licensed insurer to issue an insurance policy for regulatory or certification purposes.

An agreement whereby one insurance company issues a policy for a second insurance company in return for a fee. If the definition you're searching for is not listed, please feel free to email us.

A reinsurance arrangement in which a licensed insurer, known as the fronting company, issues a policy on a risk for, and at the request of, one or more other unlicensed insurers with the intent of ceding the entire risk to the other insurer or insurers through reinsurance.

In international insurance, this refers to a locally admitted Insurer ceding the local risk, less any retention - fronting fee - and/or taxes, to its Reinsurer.

An arrangement between two insurance companies to produce an insurance policy (usually workers' compensation) for a third party wherein one insurance company produces the official policy (for a fee) but cedes all losses from that policy to the other insurer. This kind of arrangement is used in situations where the insurer writing the risk is not an admitted company in a particular state, and the coverage needs to be written by an admitted carrier. In order to meet the statutory requirements, the first insurer pays a second (admitted) insurer to "front" the policy, even though the first insurer remains responsible for paying all losses arising under the policy. This kind of arrangement is often used by captive insurers when they are not admitted carriers in a particular state.

A procedure in which a primary insurer acts as the insurer of record by issuing a policy, but then passes the entire risk to a reinsurer in exchange for a commission. Often, the fronting insurer is licensed to do business in a state or country where the risk is located, but the reinsurer is not. The reinsurer in this scenario is often a captive or an independent insurance company that cannot sell insurance directly in a particular country.