Small Account Workers' Compensation Insurance Program from Phoenix Risk Management
Phoenix Risk Management (PRM) offers a specialized Small Account Workers' Compensation Program designed for agencies looking to place smaller workers' comp accounts with competitive carriers. With a premium range from $1,000 to $100,000, this program is ideal for smaller businesses across a variety of industry classes that meet specific underwriting criteria.
Whether your client operates a local retail shop, small manufacturing facility, or service-based business, PRM provides access to financially strong carriers (rated A XV to B+ VII by A.M. Best) that can offer the coverage they need—even if their account is too small for traditional markets. This is a non-admitted program, and carrier details are disclosed to appointed brokers upon request.
Target Classes and Ideal Accounts
The PRM Small Account Workers’ Compensation Program is well-suited for agents with clients in defined industry classes that may not qualify for standard markets due to size. Ideal accounts include:
- Small contractors and artisan trades
- Light manufacturing and assembly operations
- Retailers and small wholesalers
- Professional offices and service businesses
You might have a client with a clean loss history and under $100,000 in annual premium, but they're struggling to find a carrier willing to take on the risk. This program is designed for those scenarios.
Program Highlights
- Premium range: $1,000 to $100,000
- Minimum premium: $1,000
- Access to financially secure carriers (A XV to B+ VII)
- Tailored underwriting for small accounts
- Available across 48 states plus DC
Submission Requirements
To streamline the quoting process, PRM requires a complete submission package:
- Signed and dated ACORD application with FEIN
- Signed and dated PRM supplemental application
- Minimum of 4 years of currently valued loss runs (within 90 days of effective date)
- 4 years of historical aggregate payroll data
- Current Experience Modification Worksheet (if available)
- Details on any losses over $50K
- Complete description of operations
- Bureau Inspection Report (if available)
- Submissions accepted no earlier than 90 days prior to the effective date
Territory and Availability
This program is available in nearly all U.S. states, including AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, and WY.
Why Partner with Phoenix Risk Management
Phoenix Risk Management is a trusted Managing General Agency and Excess & Surplus Lines Broker with deep expertise in workers’ compensation. Their focus on small accounts, responsive underwriting, and strong carrier relationships make them a valuable partner for agents placing tough-to-place or underserved risks. With a streamlined submission process and clear underwriting expectations, PRM helps you close more business efficiently.