StaffPak Program Experiencing Significant Growth
Undisciplined underwriting practices and underpricing by insurance markets in the Staffing and PEO space has created a growth opportunity for the StaffPak Program. Deteriorating loss ratios, in particular lines of coverage, have motivated insurance companies to change their appetite for certain risks. This is particularly true in the areas of employment practices liability and medical professional liability. To compensate for poor results or in anticipation of poor results carriers frequently increase premiums, offer less favorable terms and sometimes even withdraw from the market. When this happens the disciplined underwriters, like the underwriters at StaffPak, are here to pick up the pieces and serve as a
stable market.
Published on February 5, 2019
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