Get the Best of Both Worlds
When you throw a boomerang, what do you hope for? That it comes back to you! National Interstate’s Boomerang program does just that. The Boomerang program gives crane, rigging and specialized carriers the best of both worlds: the upfront cash flow advantages of a deductible program coupled with the control and potential rewards of a group captive program. Here are a few highlights of the program:
The Best of a Deductible Program
• Deductible coverage for General Liability, Workers' Compensation, Auto Liability, Auto Physical Damage and Riggers' Liability
• Upfront premium savings and cash flow advantages
• Known collateral obligations, including when collateral is returned
The Best of Alternative Risk Program
• Group members are best-in-class operators who take greater control of their
insurance destiny through shared underwriting profit and investment income
in the shared risk layer
• Premiums in risk sharing layer determined by performance of the group,
reducing pricing volatility
• Zero downside in shared risk layer – National Interstate’s Aggregate
Protection means no potential assessments and only potential upside if
group performs positively
• No additional collateral required
• Investment income accrues to group members at guaranteed rate of 3.75%1
• Guaranteed tail quote after three-year accounting cycle
By being a member of Boomerang, you will be invited to annual meetings that support an "iron sharpens iron" philosophy. Members will be brought together to build relationships and share best practices that encourage safer and more profitable operations while also getting to know National Interstate’s senior executives. Members will also be given aggressive and transparent in-house claims expertise along with a suite of loss control tools including subsidy programs.
How is Boomerang different from other Alternative Risk Transfer (ART) or captive programs?
Boomerang offers the best of a deductible and the best of an alternative risk program. Group members receive the upfront premium savings and cash flow advantages of a deductible plan but also greater pricing stability and the potential return of underwriting profit via a shared group layer of risk. Additionally, with a 0% Aggregate Stop Loss feature, there is no downside risk in the shared group layer.
For more information, please visit our Crane, Rigging and Specialized Carriers Insurance page.
1. Effective 1/1/23-12/31/23.