Untitled Document


Affinity & Association Programs


Trustco's Affinity Practice can extend benefits to your group of virtually any scale. Our affinity programs can help maximize benefits to your members!

Group & Association Benefits

  • Group Pricing: Applies to all products & services. For insurance, a group of Massage Therapists recognize an 80% price reduction by combining purchasing power on business insurance! Home & Auto insurance can garner 10% - 15% discounts with numerous insurance companies.

  • Sample Group Home & Auto

  • Simplified Procurement: Because we underwrite the group individual enrollment becomes simply. Most groups recognize a one page policy where they make their requests and confirm their franchise status
  • Dividend Opportunities: For some groups in certain jurisdictions dividend options are available. Thus as your group continues to purchase coverage you (or your designated beneficiary) can reap the benefits.

Member Benefits

  • Exclusive rates (discounted)
  • Exclusive endorsements & Coverage
  • Assurance of insurance specifically built for your group
  • Simplified enrollment (usually on-line)

Target Markets

Affinity Group News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

  • Alumni & Employer Groups: Minimum group size of 50 makes us much more flexible than our national competitors. Maximum group size of 500,000. All employer groups, fraternities, alumni associations, etc. are eligible.
  • Technology: Designers, coders, consultants, engineers, etc. Virtually anyone providing or assisting with technology.
  • Retail: Food & Beverage, Personal Care, Novelty, Kids & Baby, Clothes, etc.
  • Life Science: R&D, Pharmaceutical, Medical Device, Clinical Research, Nutraceuticals & Homeopathic Medicine.
  • Media: Advertisers, Writers, Distributors, Consultants (PR, Press, etc.), Radio, Television, Web & Pod casts
  • Healthcare: Nursing Facilities, Independent & Assisted Living, Hospice, etc.
  • Skilled Trade: HVAC, Plumbing, Mechanical, etc.
  • High Risk: Bail bonds, high-adventure, outdoor guides, etc.
  • Allied Medical: Acupuncture, Audiology, Body Therapy, Lab Techs, Clerical Assistants, Cosmetology, Counselors, Dance, Dental, Dietician, Homeopath, Hypnotherapist, Massage Therapists, Nutritionist, Opticians, Orthotics/Prosthetics, Personal Trainers, Phlebotomists, Speech Therapists, etc.
  • Professionals: Architects, Engineers, Accountants, Data Processors, Graphic Designers, HR & Management Consultants, Surveyors, Interior Designers, Real Estate Agents, Electrical Engineers, etc.

Products & Services

Our product offering includes:

Property & Casualty
  • General Liability(including Product Liability)
  • Property & Stock
  • Auto
  • Workers Compensation
  • Occupational Accident
  • Umbrella
  • Bonds
  • Professional Liability (E&O)
  • EPLI and D&O
  • Security & Privacy
Employee Benefits
  • Health Insurance
  • Accidental Death & Dismemberment
  • Business Accident
  • Short Term Disability
  • Long Term Disability
  • Life Insurance
  • Tele-health
Services
  • Loss Control
  • Insurance Verification (TrustCert)
  • Safety Training
  • HR Trainings

Get Started

A simple group census is the simplest way to begin. From that we perform initial review and supplemental surveys for groups with limited data or size. No program commitments required until acceptable program is designed and approved by you. All information remains secure under Non-Disclosure Agreement as well.

Please contact us today to find out what benefits we can provide your franchise!

 

Captive & Alternative Risk


Captives

Alternative Risk News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

A captive is an insurance company which is typically owned (entirely or shared) by its parent company. Though it is your company, via insurance and reinsurance arrangements it is also a legitimate insurance company. As both the owner and insured you control the underwriting, claims and investment decisions of the insurance company. A number of different types of captives exist:

  • Single parent or group: All operations (underwriting, claims, actuary, etc.) maintained by your company.
  • Group captive: Pooling resources with other like-minded companies to share the overhead expense.
  • Rent-a-captive: Access to captive resources though usually with limited flexibility and ROI.
  • Agency captive: Owned by insurance agencies, usually for large blocks of business or specialty risk. Agent retains all benefit.

In addition to these basic captives, it's important to keep in mind that captives can be domiciled on or off-shore and can even maintain fronting arrangements with traditional insurers. Such arrangements allow for clients to control their own program but purchase the rights to utilize another highly rates insurance company's name for contract purposes.

For most clients, a Member-Owned Group Captive is the ideal first step in this process. Group Captives provide the benefits of:

  • Potential Lower Costs
  • Control of Service & Management
  • Access to Data & Strategic Loss Control
  • Profit Sharing & Tax Advantages
While these benefits do look attractive Trustco clients do need to keep in mind a few items:
  • Long-term Commitment: Both financial and organizationally
  • Active Management: Executive team must be committed to safety and engaged in the process
  • Favorable Loss Ratio: Traditionally loss ratios of 50% or lower
  • Minimum Premium: Combined Liability & Work Comp premiums of $200,000
If you know you are wanting more control and a taste of the profits a group captive may be the best first step for you!

Dividend Programs

For clients who meet the Group Captive profile but do not want the downside risk of the captive, or additional overhead, a Dividend Program may be ideal. Dividend programs can also apply to Property Premiums along with Liability. A sample dividend program may include:
  • Loss Ratio of 0%-10%: 15% Net Premium Returned
  • Loss Ratio of 10%-20%: 10% Net Premium Returned
  • Loss Ratio of 20%-30%: 5% Net Premium Returned
In addition to no additional overhead a Dividend Program has the following benefits over a captive:
  • Reduced Timeframe: Captives take 3-5 years to provide dividends, ours are delivered next year.
  • Commitment: Captives generally require 3-5 years to receive captive contribution back. They also require substantial management change. Dividend programs can be changed annually at client discretion.
  • No Downside: If you suffer a catastrophic loss you will owe no additional funds or recapitalization.
  • Customized: Group captives require group consensus; our dividend programs allow you to customize as you see fit.

Alternative Risk

For clients with a pool of risks another option there are also Risk Retention Groups and Risk Purchasing Groups. These function somewhat similarly, except that RRGs & RPGs pool insurance purchasing power and the group's data to negotiate exclusive rates, coverage, and control. Though they function similarly the key difference is a captive maintains a portion of the risk while RPGs & RRGs transfer it all to an insurance company.

To find out how Trustco can help you take control of your insurance program please contact us.

Stock Throughput


Modern-day insurance began at Lloyd's Coffee House in the 1700s where merchants would negotiate terms to manage the risk of their products being shipped. At the time piracy was an issue, along with weather conditions and the uncertainty of foreign ports. In some respects not much has really changed, though we as a people gotten much more sophisticated in causing disruptions. Stock Throughput insurance is a the modern-day version of original cargo insurance.

Stock Throughput News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

Am I at Risk?

Stock Throughput's coverage is self contained in its name; its role is to cover your inventory & stock all throughout the entire process. For some clients this may include sourcing berries in Bolivia, shipping some to the US and others to Japan, processing them at third-party manufacturer's who forward parts on to a bottling company, who holds the bottles and provides fulfillment. From there it may be stored in owned or third-party warehouses and eventually delivered to the end user. Throughout this process the product is occasionally in client's control, but it is always a supply chain risk to the client should something go awry. In our experience we are yet to see a third-party provide full coverage for clients good's in the care. Though you may not have control of it, nor have taken title, it may still harm you financially in a loss.

Coverage

Coverage includes strikes, riots, war, and other civil unrest. Should your company be shipping, manufacturing, or sourcing goods overseas they are covered anywhere in the world. When we say anywhere we do include, China, Afghanistan, Iraq, and even the bottom of the Arctic Ocean! Perishable goods distributors are covered for spoilage caused by any virtually anything. Earthquakes, flood, tornadoes, hurricanes, terrorist attacks... all can be covered.

Clients utilizing third party manufacturers, outsourced warehousing & fulfillment may also insure their products while in the Care, Custody or Control of others. This can apply anywhere in the world regardless of political status. Additionally further coverage is available should a crucial supplier or manufacturer suffer a loss which delays the client's business. Other equipment can all be insured at replacement value, not actual (depreciated) value.

Market Segments

Coverage is available to all customers, however those that gain the highest benefit are outlined below. Coverage is provided SALES VALUATION, thus your profit is included should any physical harm befall inventory. Traditional coverage insures at book value, we prefer to make you whole. Target industries include:

  • Manufacturers
  • Wholesalers
  • Retailers
  • Distributors
  • Import/Export
  • Technology
  • Oil & Gas
  • Energy
  • Mining
  • Perishable Goods

Cost

Due to combining Property, Cargo & Inland Marine policies into one Stock Policy most of our clients recognize a net premium decrease. For clients who do not have existing coverage this can often be procured at $1 per $1,000 of product, or 0.1%.

Let us show you how we can extend your stock coverage with no increased costs by contacting us!

Financial: Credit Insurance


Guaranteed Payment

Example
Company's profit margin is 5% and one of its customer's default on a debt of $100,000, the company will have to produce additional sales of $2,000,000 to make up for the lost profits. More importantly, the lost cash flow could be devastating.
Every business should have a strategy in place to manage bad-debt losses. On average 40% of a company's assets are in the form of trade debts. Predicting which clients will default, even with DnB reports and bank references, is very difficult. Close to 50% of all payment defaults arise from customers with whom stable and long-term trade relationships have been established. A trade credit insurance policy helps manage your accounts receivable and compensates you in the event of non-payment.

Trade Credit or Accounts Receivable Insurance can guarantee between 80% up to 100% of your invoice amount is paid. Payment can be guaranteed due to insolvency, protracted default (disputed payments) or political risk & currency devaluation. For most policies, claims are paid within 60 days of filing and notification of claim.

Strategic Marketing

You're Approved!
We've all been there, you're offering the client the best deal, it meets all their needs, but you can't get credit terms negotiated! At Trustco, we like to provide the tools to transform this obstacle into an advantage. With Trustco's Trade Credit Insurance you can send your salesforce out to prospects & clients with payment terms pre-approved! No longer worry about structuring trade and focus on what makes you unique!

Pre-Approval
If you are already offering credit terms to a large block of clients Trustco can help you extend your offering and simplify the approval process. For many of Trustco's clients we provide a blanket limit that applies to all purchasers under $50,000. This means anyone with outstanding invoices of less than $50,000 can automatically be approved for trade terms! For some clients this means an immediate growth of 30% due to payment terms, for others it means reducing the number of people on the credit approval team.

Credit Insurance News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

Policy Options

Trade credit policies can be structured in a number of forms:

  • Multi-buyer
  • Single-buyer
  • Short-term
  • Medium-term
  • Small business export
  • Lender's & Financial Institutions (insuring client's receivables
  • Bank Letter of Credit

Regardless of your needs we can find a credit policy that fits your needs.

For clients with more complex needs Financial Guarantee may be the appropriate product to hedge those risks. Find out more about Trustco's Financial Guarantee here.

Policy Costs

Many clients are surprised at how relatively inexpensive trade credit insurance can be. For most clients (utilizing multi-buyer policies) rates are 0.25% - 0.50% of invoices. Rates dependent on your company's credit history, geographic scope, products & services sold and volume of sales.

Due to the low cost of insurance many clients opt to procure insurance and charge clients an APR of 3-5% which easily covers the difference along with providing profits; all with virtually no risk on your end!

To find out how Trustco can help expand your business credit terms please contact us.

Financial: Financial Guarantee


Extended Guarantee

Financial Guarantee begins where Credit Insurance ends. For most credit insurers they have an exclusive for Financial Guarantee; something that is interpreted quite broadly after the 2008 financial collapse. To understand financial guarantee, it is important to have a general understanding of credit insurance, which can be found here.

Financial Guarantee Insurance can guarantee between 80% up to 100% of your risk. Covered losses include those listed in the Credit Insurance section, in addition to coverages listed below.. For most policies, claims are paid within 60 days of filing and notification of claim.

Coverage Enhancements

Trustco's Financial Guarantee programs can meet virtually any aspect of a clients needs. Below is a brief list of the most commonly request coverages. Should your particular need not be listed, or you feel it's very unique please contact us. Our mission is to convert your risks into opportunities! Sample coverages include:

Financial Guarantee News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

  • Bank Structured Trade Finance
  • Financial Institution Structured Trade Finance
  • Corporate Structured Trade Finance
  • Confiscation, Expropriation, Nationalization, etc.
  • Contract Frustration Insurance
  • Currency Inconvertability
  • Political Risk
  • Pre-export Credit Insurance
  • Wrongful Calling of Guarantees (LOCs, ILOCs, etc.)
  • Mortgage Payment Guarantee
  • Residual Income Guarantee (referral, franchise, affiliates, etc.)
  • Games of Chance
  • Promotional Guarantee
  • Much, much more...

Policy Options

Trade credit policies can be structured in a number of forms:

  • Multi-buyer
  • Single-buyer
  • Short-term
  • Medium-term
  • Lender's & Financial Institutions (insuring client's receivables
  • Bonds

Regardless of your needs we can find a credit policy that fits your needs.

Policy Costs

Many clients are surprised at how relatively inexpensive Financial Guarantee insurance can be. Depending on the structure, limits, and inherent risk in addition to the volume of risk pricing can be as low as 0.2%! Each situation is different, however coverage is often less than you'd often imagine.

To find out how Trustco can help with your financial guarantee needs please contact us.

Financial: Asset Collateralization


Inventory & Assets

Maximize the eligible borrowing base with virtually no additional premium! Modifying existing coverage can provide substantially more collateral.

Trustco's Asset Collateralization coverage can do two things; (1) insure your products and assets anywhere in the world for virtually any loss and (2) increase your lendable assets to improve your credit facilities. This product is built off the success of Trustco's Stock Throughput but extended to help both banks and clients improve the availability of credit.

Industry Focus

Coverage is provided by valuing assets at SALES VALUATION. Client's profit is included should any physical harm befall the inventory. Inventory is no longer valued at book value but at market value. Target industries include:

  • Manufacturers
  • Wholesalers
  • Retailers
  • Distributors
  • Import/Export
  • Technology
  • Oil & Gas
  • Energy
  • Mining
  • Perishable Goods

Coverage

Coverage includes strikes, riots, war, and other civil unrest. Should your company or client be shipping or manufacturing goods overseas they are covered, anywhere in the world. When we say anywhere we do include, China, Afghanistan, Iraq, and even the bottom of the Arctic Ocean! Perishable goods distributors are covered for spoilage caused by any virtually anything.

Clients utilizing third party manufacturers, outsourced warehouse & fulfillment may also insure their products while in the Care, Custody or Control of others. This can apply anywhere in the world regardless of political status. Additionally further coverage is available should a crucial supplier or manufacturer suffer a loss which delays the your business.

Other equipment can all be insured at replacement value, not actual (depreciated) value. Thus lending on equipment or other property is easy with the knowledge that any physical harm with result in replacement with brand new equipment.

Should the client be a good credit risk, we can cover the rest! Please contact us to find out more!

HCIT Earthquake & Flood


Doesn't my homeowner's cover that?

Have you ever wondered what would happen if a devastating earthquake struck your neighborhood? At Trustco we've had many customers over the year wonder how their home is covered due from earthquakes, floods, landslides and other catastrophic events. In 1975 Trustco formed the Homeowners Catastrophe Insurance Trust (HCIT). HCIT provides an economical approach to covering these major perils, principally earthquake, flood and landslide. The program provides property protection for losses from disasters such as these, most of which are not covered on homeowners' policies.

Highlights

HCIT News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

  • HCIT insured 100% through Lloyd's of London.
  • Coverage is A rated (S&P) and A (AM Best). 
  • Formed in 1975, 36 years of continual underwriting experience.
  • Blanket limit coverage is automatic for the Dwelling, Other Structures and Contents.
  • All are added together and may be used as a total Sum insured for the payment of any losses within these coverage groups. 
  • No inspection is required.
  • 2 day approval (average).
  • All flood zones available (subject to underwriting).
  • Maximum limit $5,000,000+ (FEMA max of $250,000).

Availability

Coverage is available in the following states:
  • Colorado
  • Utah
  • Idaho
  • Nevada
  • New Mexico
  • Washington
Our program is available to Independent Insurance Agents & Brokers (find one here) or feel free to contact us directly!

Franchise Programs


Trustco's Affinity Practice can extend benefits to both Franchisor & Franchisees on virtually any scale. We know you need to deliver benefits to franchisees, along with making it easier for them to focus on their business (and yours). Our Franchise programs helps to those ends.

Franchisor Benefits

  • Insurance Compliance: Utilizing TrustCert our Franchisors are able to verify that franchisee insurance is (1) current, (2) accurate, and (3) contains required endorsements. This is provided whether Franchisee purchases coverage through our program or maintains independent insurance.
  • Group Pricing: For specialty groups or high-risk operations a franchise program can dramatically decrease costs (and availability). For all groups, large participation can quickly reduce rates.
  • Simplified Procurement: Because we underwrite the group individual enrollment becomes simply. Most groups recognize a one page policy where they make their requests and confirm their franchise status
  • Dividend Opportunities: For some groups in certain jurisdictions dividend options are available. Thus as your franchise continues to purchase coverage and maintain good safety the Franchisor (or designated beneficiary) can reap the benefits

Franchisee Benefits

Franchise News
Turning Risks Into Opportunities at the London Olympics

As Mitt Romney noted on his trip to London, there were “disconcerting” signs that London may not be ready for the Olympic Games.  Problems including security services, immigration, etc. were all facing the games close to the start.  At Trustco … Continue reading

S&P affirms Lloyd’s A+ rating

S&P affirmed Lloyd’s rating of A+, making it one of the few carriers with such a stable and positive rating.  At Trustco we work with Lloyd’s quite extensively both for our hard to place risks and for our specialty Homeowners … Continue reading

US sells $18 billion of AIG

The Treasury Department announced it’s intention to sell off $18 billion worth of AIG shares in a move that will take the US from position of majority holdings (53%) to a minority group (20%).  More importantly for tax payers, the … Continue reading

  • Exclusive rates (discounted)
  • Exclusive endorsements & Coverage
  • Assurance of insurance specifically built for your operations
  • Simplified enrollment (usually on-line)

Target Markets

  • Technology: Designers, coders, consultants, engineers, etc. Virtually anyone providing or assisting with technology.
  • Retail: Food & Beverage, Personal Care, Novelty, Kids & Baby, Clothes, etc.
  • Life Science: R&D, Pharmaceutical, Medical Device, Clinical Research, Nutraceuticals & Homeopathic Medicine.
  • Media: Advertisers, Writers, Distributors, Consultants (PR, Press, etc.), Radio, Television, Web & Pod casts
  • Healthcare: Nursing Facilities, Independent & Assisted Living, Hospice, etc.
  • Allied Medical: Acupuncture, Audiology, Body Therapy, Lab Techs, Clerical Assistants, Cosmetology, Counselors, Dance, Dental, Dietician, Homeopath, Hypnotherapist, Massage Therapists, Nutritionist, Opticians, Orthotics/Prosthetics, Personal Trainers, Phlebotomists, Speech Therapists, etc.
  • Professionals: Architects, Engineers, Accountants, Data Processors, Graphic Designers, HR & Management Consultants, Surveyors, Interior Designers, Real Estate Agents, Electrical Engineers, etc.

Products & Services

Our product offering includes:

Property & Casualty
  • General Liability(including Product Liability)
  • Property & Stock
  • Auto
  • Workers Compensation
  • Umbrella
  • Bonds
  • Professional Liability (E&O)
  • EPLI and D&O
  • Security & Privacy
Employee Benefits
  • Health Insurance
  • Short Term Disability
  • Long Term Disability
  • Life Insurance
  • Tele-health
Services
  • Loss Control
  • Insurance Verification (TrustCert)
  • Safety Training
  • HR Trainings

Get Started

A simple group census is the simplest way to begin. From that we perform initial review and supplemental surveys for groups with limited data or size. No program commitments required until acceptable program is designed and approved by Franchisor. All information remains secure under Non-Disclosure Agreement as well.

Please contact us today to find out what benefits we can provide your franchise!