Products

IRM offers a wide range of products intended to help our clients boost their profits. These products include the following:

Habitational Programs

Currently, we market two programs designed for apartments, condominiums and townhouses.

Preferred Habitational Program: This program concentrates on preferred apartment accounts that are less than 20 years old or have been renovated in the past ten years. Owner-occupied condominiums and townhouse associations may be written, provided they meet underwriting standards. All accounts generally must be written as a package policy. We provide a wide array of enhancements that are specific to this class of business. In addition, crime coverage, hired/non-owned auto, and employee benefits liability can be included in the package.

Umbrella coverage is available in conjunction with this program with a $25,000,000 limit.

Second Tier Habitational Program: This program concentrates on apartments, condos, townhouses and economy hotels that do not fit the criteria for our Preferred Program. The target market is habitational accounts commonly referred to as “B” class accounts. We provide monoline coverage for properties over 10 years of age.

AVERT™ is an insurance product for the commercial trucking industry that includes camera technology. With this video-based insurance program, your fleet managers have unprecedented access to driver analytics.

AVERT™ partners with Lytx, the leading driver science company, to offer its fleet insurance partners a unique insurance solution that incorporates:

  • A bi-directional camera mounted on vehicle windshield
  • Simple plug and play setup
  • Precise tracking and accident re-creation
  • Real-time vehicle data recording sight, sound, g-force
  • Forward and rear views
  • GPS tracking of speed, latitude, longitude and heading

AVERT™ puts the Power of Predictive Analytics in your fleet management's hands!

  • Infinite-loop, digital recording
  • Exception-based triggers
  • Nightly uploads via cellular network for DriveCam analysis
  • Stored on internal 256 MB flash card

Elite Partners Insurance Captive (EPIC) is designed for best-in-class companies who want to reduce their overall cost of insurance through effective risk management. Because membership in EPIC is not limited to a single industry, risk is diffused across a broader base, insulating the group from financial risk that typically befalls industry captives that risk by industry type. A commitment to safety and sound risk management practices is required in EPIC. The goal of EPIC is to reduce long-term costs while protecting resources and, most importantly, profits. By bringing preferred companies together into a shared alternative risk vehicle, EPIC benefits individual clients by offering control of insurance costs and participation in underwriting profits that are currently being retained by the insurance company.

EPIC is administered by Innovative Risk Management through Great American Insurance Company and has been in existence since 2005. All shareholders have a vote on strategic decisions made by the captive with each member having seat on the Executive Committee. EPIC benefits its members by offering greater control of activities that impinge on risk management, including claims settlements, loss control and safety activities. EPIC operates at expense factors below those available in the traditional marketplace, thus providing cost savings and even profit potential to participants. EPIC is accessible through qualified independent insurance brokers. IRM coordinates services with the client’s broker to ensure a customized solution that directly addresses the risks inherent in the client’s business.

Assurex Global Captive Risks

Assurex Global Captive Risks (AGCR) is designed to provide its participants with control of their own risk management programs and insurance. By bringing preferred construction contractor risks together into a shared alternative risk vehicle, AGCR benefits individual insureds with long-term control of insurance costs and participation in underwriting results. The goal of AGCR is to reduce long-term costs of risk while protecting resources and, most importantly, profits.

AGCR is administered by IRM through Arch Insurance Company and has been in existence since 2004. AGCR is owned and controlled by its shareholders. As a member of this exclusive group captive, you will be involved in important decision-making, including the admission of new members. AGCR can be accessed through any Assurex Global broker. Assurex Global is an exclusive partnership of the top independent insurance and risk management brokers worldwide. By partnering with an Assurex Global broker and IRM, clients get the personal attention of a local broker and the expertise of an alternative funding innovator, creating a long-term risk management strategy unique to their business.

Construction Insurance and Risk Captive of America (CIRCA) is the answer to a lack of inventive risk management options in the traditional insurance market. Operating as a group reinsurance captive, CIRCA is designed to be a long-term, profitable and stable venture. Member selection is based on a commitment to industry best practices for safety and claims management. The CIRCA approach is effective and financially rewarding through capture of underwriting and investment income.

CIRCA’s standards ensure that only the best-in-class construction contractors are allowed to join. The claims team partners with you to keep you informed of claims activity and progress, giving you an increased role in how the claim is handled. The loss control team works with your risk management team to ensure that your company complies with CIRCA’s best practices, tailoring their training approach to provide you with what you need, when you need it. CIRCA is accessible through qualified independent insurance brokers.