To help you learn more about TrueNorth Companies, an NSCA Business Accelerator and insurance provider, we asked Risk Management Specialist Chad Henry a few quick questions.
Q: What type of service do you provide to NSCA members?
A: We help those that are dealing with some type of insurance pain, whether it be cost, a non-renewal, the level of service they receive, or an agent that doesn’t understand how they work.
Q: What are the biggest pain points you see among integrators?
A: The biggest pain points we see for NSCA members involve insurance requirements in contracts, being non-renewed, and overall insurance increases. Premiums have been through the roof, especially on commercial auto.
Q: Can you provide an example of how you’ve helped an NSCA member with an insurance pain point?
A: One NSCA member shared an unfortunate story about his insurance pain with me. His employee was at fault in an accident that resulted in the death of another person. The company’s insurance carrier had to pay out an extremely large amount on that claim. When the next insurance renewal rolled around, they informed the company that they were going to non-renew the insurance. The replacement carrier was going to be twice as much as the expiring policy. To help, TrueNorth started collecting information from the integrator, including current policies and loss history, to put together a presentation to our insurance market and share what happened. They sent a risk management inspector to meet with the NSCA member and realized that, although it was incredibly unfortunate, the event was isolated. The integrator was doing all the right things when it came to controlling their drivers and loss. As a result, our carrier was able to provide rates and premiums that weren’t based on that accident. The proposal saved the company nearly 50% on insurance, and they’ve been a loyal customer since that time. We now write the company’s general liability, property, cyber, and professional coverage.
Q: What about advising? Do you offer that type of support as well?
A: Yes, we definitely do. We also act as that go-to resource. Another NSCA member regularly calls on us when when contracts come across his desk. He’s quick to email me the insurance requirements and ask if the company has enough coverage. If not, he wants to know what he needs to add and how much it will cost.
Q: Some of our members ask about bonding. Is that something you can provide as well?
A: If bonding is the pain point, then we can definitely start with that. We actually have a quick bond for anything under $750,000, and we can do it with a one-page application. If you want the bond and have good credit, then we can turn that around quickly for anyone.
Q: What do you want NSCA members to know about working with TrueNorth?
A: We know how hard integrators work, we understand the type of businesses they run, and we realize how quickly some things need to be turned around. For example, the integrators we partner with often request certificates of liability for every contract. We issue thousands per year for some clients. Our account managers typically have a 24-hour turnaround on those. We get things issued quickly. The same holds true for cyber insurance. When that’s needed for a contract, we can put it together very fast.
Learn more about TrueNorth and what it offers to NSCA members.