Safety Net Shield: American Builders Insurance Company

In response to the complex liability challenges of the 1980s, Congress introduced the Liability Risk Retention Act (LRRA) in 1986, sparking a transformation in the insurance landscape.

AMERICAN BUILDERS INSURANCE SERVICES
Source; Yelp

The LRRA Act offered an innovative solution to the era’s pressing issues, which included limited product availability and exorbitant insurance rates.

Under this legislation, similar liability exposure groups were granted the power to create their own insurer, known as a Risk Retention Group (RRG), to meet their coverage needs.

In the realm of insurance, a Risk Retention Group operates as a liability insurance company that is collectively owned by its members.

In our case, ABIC RRG, this ownership extends through the American Builders Association.

This article delves into the vital role ABIC RRG plays in providing tailored and efficient liability solutions in accordance with the LRRA Act of 1986.

Unlocking the Benefits: The Advantages of The Program

In their commitment to providing the best insurance solutions, they have harnessed several key advantages that set us apart from the rest. These benefits include:

1. Strategic Alliances

We’ve forged strategic partnerships with top reinsurers, insurance producers, and claims & loss control experts.

These alliances have proven instrumental in crafting cost-effective risk transfer solutions for our valued members.

2. Industry Specialists

As specialists in the alternative market sector, we bring a wealth of personal, professional, and hands-on experience to the table.

Our expertise is tailored to meet the unique needs of the small contracting industry, ensuring that our solutions are both comprehensive and effective.

3. Unbundled Coverages

We offer our insurance coverages on an unbundled basis, allowing our clients the freedom to cherry-pick the exact coverage options they require.

This approach deviates from the outdated one-size-fits-all mentality, empowering our clients to embrace tailored solutions that incorporate the finest insurance products and services available.

4. Recognized Expertise

Our team comprises dedicated professionals with recognized expertise in various facets of the insurance industry.

From underwriting, marketing, reinsurance, and accounting to policyholder services, regulatory compliance, claims management, and loss control, we have the knowledge and skills needed to serve our members with distinction.

At American Builders Insurance Company, we pride ourselves on delivering innovative and personalized insurance solutions, designed with your specific needs in mind.

Our commitment to excellence is unwavering, and we look forward to continuing to provide you with unmatched service and protection.

ABIC RRG’s General Liability Program: Tailored Coverage for Construction Industry

Are you a General or Artisan Contractor engaged in commercial or residential projects? If so, ABIC RRG has designed a comprehensive General Liability Insurance program exclusively for you.

Our program caters to the unique needs of the construction industry, providing a wide range of solutions to ensure you’re adequately covered.

Eligible Classes Include:

  • Roofers
  • Carpentry/Framing
  • Excavation
  • Plumbing
  • Electricians
  • Tree Trimming/Landscaping
  • Construction Managers
  • And more

Eligible Risks:

  • New Ventures
  • Those with a Lapse in Coverage
  • Individuals with No Prior Coverage
  • 100% Paper Contractors
  • Artisan & General Contractors

Program Highlights:

  • Competitive Minimum Premiums
  • Instant Quoting
  • Competitive Rates
  • Financing Options Available
  • Competitive Commissions
  • Flexible Limits: $1,000,000/ $2,000,000 Aggregate Available

Available Coverages:

  • Occurrence Coverage
  • Coverage for General Contractors for Work Done by Subcontractors
  • Blanket Additional Insured (AI), Waiver of Subrogation (WOS), and Primary Non-Contributory Clauses
  • CG 2037 Available on a Referral Basis

How To Contact American Builders Insurance Company

By Phone: 866-984-3318 By Fax:855-817-6016

By Email: claimfirstreport@usadminclaims.com 

By Mail: US Administrator Claims – P.O. Box 2005 – Oak Ridge, TN 37831

 

Spread the love