Hard hats and steel-toed shoes don't usually lead to thoughts ofcustom boutiques. Yet for many higher-exposure and hard-to-placeworkers' compensation accounts, a specialty-niche approach tomanaging risk is a natural evolution.
Much of the insurance industryhas taken a “big-box” approach to products—and, more importantly,services—to contain costs and homogenize distribution. Thisone-size-fits-all delivery of policies and risk- managementsolutions, however, is not the best approach to customers inindustries where workers' comp premium is a major budgetcomponent.
In these industries, which include waste reduction andrecycling, contracting operations involving excavation and heavyequipment, as well as select types of transportation fleets,“severity potential” naturally attracts higher rates.
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