General liability is an essential component of any comprehensive insurance program. PMA’s general liability program is designed to help our workers’ compensation clients protect their businesses from a wide variety of liability exposures.
PMA best serves as a provider of general liability coverage to clients whose philosophy of risk management is underpinned by a desire to control the costs of loss. PMA underwrites businesses that exhibit quality management practices and committment to controlling and reducing loss through risk management best practices. Our risk control services provide you successful guidance through loss prevention, mitigation and accident investigation. We are not adverse to underwriting risks with frequency of losses that are known or reported quickly.
We concentrate our general liability underwriting efforts in key industries:
- Food Products
- Durable Goods Manufacturing
- Retail Establishments
- Wholesale Distribution
Our programs range from risk transfer to risk sharing partnerships. Your choice of risk sharing includes Deductibles and Retrospective Rating Plans.
The deductible plans offer a risk-sharing deductible that may be applied to bodily injury liability claims, to property damage liability claims, or to both. It also offers the option of deductibles that apply on either a per-claim or a per-occurrence basis. Under a deductible plan:
- PMA will handle all claims within the client-funded deductible
- Our partners may choose an annual aggregate deductible limit, also known as stop loss protection, at which threshold the occurrence deductible no longer applies and the policy begins to respond as first dollar
- The annual aggregate deductible option is available on a single product basis or on a multiple product basis (the multiple product aggregate deductible is commonly referred to as a basket aggregate deductible)
Retrospective policies are another option which allows your general liability policy premium to be determined at the expiration of a rating period on the basis of actual or incurred losses during that period subject to a maximum and minimum premium. Again, a strong partnership must exist between PMA and you to provide significant potential advantages such as:
- Generation of a final premium that is substantially lower than premiums developed by standard guaranteed cost policies if you can control losses
- An economic incentive for you to significantly reduce or reverse negative loss history that creates unfavorable experience and schedule rating modifications for your general liability policy
- The benefits of loss control begin to accrue to your organization and may be fully realized in a relatively short time
Combined product retrospective rated policies are also offered in similar fashion to deductible plans. For example, workers’ compensation, general liability and automobile liability may be combined into a single program.
Note: PMA is not a provider of general liability coverage for healthcare risks; clients with foreign-made products for which no risk management relationship exists with the manufacturer; manufacturers of building envelope products that can lead to construction defect claims; manufacturers of critical parts for any transportation equipment; manufacturers of pharmaceutical, medical or biosciences products; mining or agricultural exposures; or other high-hazard products or operations exposures.
How can PMA help you? Call us at 1-888-476-2669 or visit our Contact Us page to explore how our risk management capabilities and expertise can deliver tangible value for your organization.