The AGC-LV Indemnity Group is a workers’ compensation Captive Insurance Company formed by the Associated General Contractors, Las Vegas Chapter to provide its members an alternative to traditional insurance and self-insurance. By bonding together, group members create a sharing of risk that can help control insurance costs with less of the volatility found in the general insurance industry.  AGC-LV Indemnity Group offers several advantages:

•• No Joint and Several Liability ••
•• Coverage in Multiple States ••
•• Potential Dividends ••
•• Free AGC Risk Management and Safety Services ••

What is the AGC-LV Indemnity Group?
The AGC-LV Indemnity Group is an Association captive insurance company that the Associated General Contractors Las Vegas Chapter owns and operates to provide insurance to its members.  The members create a sharing of risk that may reduce insurance costs and based on loss performance, members may also receive underwriting profits in the form of dividends.

Why should you consider the AGC-LV Indemnity Group?
As a member of the captive insurance company, you are less likely to experience the unpredictable and often increasing premiums imposed by conventional insurance providers.  And if that is not reason enough, other benefits enjoyed by members may include:

Lower costs:
The price of insurance coverage purchased in the conventional market can oftentimes include mark-ups to pay for the insurer’s acquisition costs, marketing expenses, high broker commissions, administration and overhead.  Such pricing is specifically designed to deliver profit to the insurer.  In a captive, the goal is to minimize those costs and enhance your bottom line.
Enhanced Profit Potential:
As a member, you may be rewarded for risk control by receiving dividends that are directly related to loss performance.  Those dividends mean that more money is in your pocket to invest in wherever your business needs it most.
No Joint and Several Liability:
Self insured groups’ popularity is growing because of lower costs and the possibility of dividends.  However, the members of these self insured groups may not be protected from joint and several liability.  Members of the AGC-LV Indemnity Group are not subject to joint and several liability. 

Who should consider the AGC-LV Indemnity Group?
The captive insurance company is an ideal form of alternative insurance for companies that share such qualities as:

• Long term financial strength and stability
• Management teams committed to safety, with solid safety programs in place
• Loss histories that are average or better than average for their respective industry

How do you get started?
Call Eddie Burkhart, AGC-LV Indemnity Group, Program Administrator at
702-932-1478.

Policies issued by ULLICO Casualty Group (B+ rated by AM Best) or
State National Insurance Company (A rated by AM Best).
Ratings effective as of 12/31/09

 

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