Innovative Workers' Compensation Program for Hospitality Sector
New Collaboration in Hospitality Workers' Compensation
Origin Specialty Underwriters has partnered with Zurich Programs to launch a cutting-edge Workers' Compensation program specifically designed for the hospitality industry. This initiative is aimed at restaurants and hotels in the small to middle-market segment, combining strengths from both organizations to cater to this vital sector.
Strength in Partnership
The agreement signifies a robust collaboration, leveraging Origin's extensive industry experience and Zurich's impressive financial backing. With an A+ financial strength rating, Zurich brings significant resources to the table, enhancing the insurance options for deserving hospitality entities.
Program Details
According to the agreement, Zurich Programs delegates its underwriting authority to Origin Specialty Underwriters. Through this partnership, Origin will be the main driver in promoting and distributing the newly developed coverage options. This strategic move culminates a fruitful two-year dialogue, initially sparked during a high-profile industry event.
Expanding Market Horizons
Origin, now a part of Beyond Risk, focuses on niche markets within the hospitality sector, including hotels and service stations. Under the leadership of President Neno Djordjevic, Origin continues to strengthen its position by providing tailored solutions for Workers' Compensation and other commercial needs.
Commitment to Excellence
"Bringing in Origin as a program administrator allows us to reach our target audience more effectively," stated Eric Cittadino, Head of Programs at Zurich North America. He emphasized their commitment to strategic growth and maintaining high standards in underwriting practices. Their collaboration is seen as a gateway to enhancing opportunities within the hospitality segment.
Setting New Standards
Both Zurich and Origin are excited about defining a strong underwriting strategy with clear objectives. Importantly, they have established specific industry segments to focus on, ensuring that some segments, like fast food restaurants, fall outside their risk appetite. This strategic selection aims to ensure high-quality service and risk management effectiveness.
Support from Zurich’s Resources
Zurich's additional resources, such as Risk Engineering and Claims teams, are fully engaged in supporting this initiative. They provided essential insights on workplace safety and compliance, emphasizing their dedication to ensuring a safe environment for all employees in the hospitality industry.
Launch and Future Prospects
The Hospitality Workers' Compensation program is set to roll out imminently, covering 26 preferred states. Both Origin and Zurich view this launch as an important step in an evolving partnership that promises to deliver outstanding service and innovative solutions to their clientele.
Origin continues to evolve under the Beyond Risk umbrella, and this new program is a testament to their commitment to growth and excellence. Their collaboration with Zurich is not just a partnership; it’s a commitment to enhancing the overall efficiency and effectiveness of Workers' Compensation in the hospitality industry.
Frequently Asked Questions
What is the purpose of the new Workers' Compensation program?
The program aims to provide specialized coverage for restaurants and hotels in the hospitality sector, ensuring tailored insurance solutions.
Who are the key partners involved in this initiative?
The key partners are Origin Specialty Underwriters and Zurich Programs, combining their expertise for enhanced service delivery.
Which industries are targeted by this program?
This Workers' Compensation program primarily targets the small to middle-market hospitality segment, including restaurants and hotels.
What advantages does Zurich bring to the table?
Zurich offers significant financial strength and resources that enhance the insurance offerings, reflecting excellence in claims service and casualty capacity.
When will the program be available?
The program is set to launch soon, covering 26 preferred states, demonstrating a significant expansion of offerings within the hospitality market.
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