Workers’ Comp // Agent Information

In 2008, CAGC Insurance Company was licensed to write Workers’ Compensation as an admitted carrier in NC & SC. Coverage is written through independent insurance agencies on CAGC Insurance Company paper that is reinsured with A. M. Best “A” rated carriers. Prior to converting to a stock insurance company, CAGC Insurance Company was known as CompTrustAGC of the Carolinas. As a group self-insurance fund, only Workers’ Compensation for members of the AGC was written. CAGC Insurance Company continues to write coverage for AGC members, but has expanded into other related types of businesses. Some examples of the type of business that will be considered are:

In order to meet the cash-flow needs of our clients, the contractors program is written on a monthly self-audit payment plan. This requires one of the following:

• 20% escrow (non-working) deposit
• Bond in the amount of the deposit
• Letter of Credit in the amount of the deposit

This is necessary due to the “pay as you go” feature which allows the insured to pay the premium at the end of the month based on that month’s actual payrolls. Final audits are still done, but since the insured paid based on their actual payroll and not an estimate, there should not be any big surprises. Non-construction risks that have stable monthly payrolls can choose another payment plan.

Agents

To obtain a quote, submit ACORD applications, 3 years plus current loss experience and the experience mod worksheet (if available).

• Prefer at least 30 days lead time
• Experience mods up to 1.30 are considered
• Pre-inspections are done for accounts over $25,000 in premium or three year loss ratio over 60%

Contractors

• Monthly self-audit
• Loss Control & Claims service that works for you to help lower your experience mod and keep a safe workplace
• Call your independent insurance agent and request a quote from CAGC Insurance Company