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ARTBA and Marsh Launch Innovative Risk Financing Solution
ARTBA in conjunction with Marsh USA, Inc., the industry leading construction insurance and captive broker, has developed a comprehensive risk management solution, offering best in class safety and risk financing alternatives for qualified heavy highway contractors.
In addition to leading edge safety expertise and resources, members have access to a newly formed homogeneous group captive that provides:
- An alternative to the traditional hardening market, offering premiums that are determined using the insured’s own loss experience
- Dividends of up to 60 percent of premiums paid, based on loss history
- Benefit of using insurance company tax and accounting standards
- Group buying power with other highly qualified heavy highway contractors
- Networking and sharing of best practices with your peers
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.
For more than seventy-five years, Marsh’s Construction Practice has delivered practical, innovative, capital-efficient solutions that generate yield and margin growth for our clients. We define, design, and deliver these solutions through collaboration with our clients on their strategies for deploying capital on project and enterprise risk. Our objective is to reduce our clients’ total cost of risk. Managing costs and processes, on the front-end, improves margins by decreasing direct and frictional costs. These savings can be bid or banked, based on the financial goals of the client, leading to growth in the value of a company’s assets and positioning it to thrive.
Our industry experience and expertise drives our ability to deliver construction risk services and solutions in a pro-active way. Our specialists understand construction risk. We provide our clients with comprehensive and timely advice on the risks inherent in their businesses and projects and have a global network of supporting specialists delivering expertise in risk management and insurance placement to help clients identify, quantify, prevent, mitigate, control, and transfer risk.
Learn more about MARSH’s CONSTRUCTION PRACTICE
A group captive is an entity owned by a group of participating companies, primarily to insure or reinsure the risks of its participants. Captive implementation is one of the premier alternative risk finance solutions for companies seeking the advantages of cost savings, insulation from cyclical market, greater ability to manage risk, and the chance to share investment income and underwriting profit rather than surrendering it to a traditional insurer.
ARTBA and Marsh present a homogenous group captive dedicated exclusively to the highway construction industry. The program includes workers’ compensation, general liability, and automobile insurance coverage. A captive could be the right tool to help your business face the world of risk on its own terms—and come out ahead.