Changes to the Workers’ Compensation insurance marketplace

Recently, both the National Air Transportation Association (NATA) and Beacon Aviation announced changes to their workers’ compensation programs.

As stated in their January 12th press release “The National Air Transportation Association (NATA) today announced a new Workers’ Compensation Insurance Program that rewards safety by making it possible for participating members to enjoy an annual return on insurance payments whenever annual premiums collected for the program exceed the administrative and claims costs for an individual year.” The NATA program will now be underwritten by QBE North America

For the past several years the NATAs workers’ compensation program was managed and administered by Beacon Aviation through their relationship with Companion P&C Insurance. Companion made an announcement in 2014 of their sale to Enstar. With this announcement, a change with the underwriting of the program was soon initiated.

Beacon Aviation similarly made an announcement, that they have a new program for top tier workers’ compensation exposures, which will be branded as BEACONaero. Beacon’s announcement of their offering in partnership with AmTrust Underwriters, Inc. stated, “BEACONaero includes coverage in all states (except Alaska and monopolistic) and with eight carriers available to you, AMTrust’s multi-tiered carrier approach gives you a competitive advantage with pricing flexibility”.

As you can see, workers’ compensation insurance continues to be an important line of business as companies continue to improve their positioning in the marketplace. LL Johns & Associates has access to both of these programs and any questions about either can be directed to any of the agents at LL Johns & Associates.