Commercial insurance digital platform Attune Insurance has announced the launch of EverPeak Insurance, a new workers' compensation product designed for small businesses and hard-to-place industries.
Attune highlighted that this new product aims to offer affordable and comprehensive workers' compensation coverage, addressing the challenges faced by employers and agents in securing timely insurance for these sectors.
Currently available in 14 states, EverPeak plans to expand its offerings nationwide. Agents appointed through Attune can access EverPeak through the platform’s digital interface, which streamlines the process of securing workers' compensation coverage for clients.
EverPeak is responsible for product development, pricing, and underwriting, with support from an A-rated national carrier for financial backing. Pinnacol Assurance, a top-rated workers’ compensation carrier for nearly 110 years, also provides support.
A recent report from the National Council on Compensation Insurance (NCCI) highlighted recent trends in the workers’ comp sector, such as workplace-related mental injuries, marijuana reimbursements, independent contractor classification, and single-payer health insurance.
"The launch of EverPeak on the Attune platform underscores our commitment to providing agents with a diverse range of insurance solutions tailored to their clients' needs," said Brennen Grone, director of sales at Attune Insurance.
He noted the difficulties faced by small businesses and those in hard-to-place industries, and emphasized that EverPeak's focus on accessibility and comprehensive coverage addresses these gaps in the market.
Last month, NCCI also proposed a 9.1% reduction in workers' compensation loss costs for West Virginia. The recommended decrease would apply to all standard classifications, with a 10.4% reduction suggested for the assigned risk market.
West Virginia Insurance Commissioner Allan L McVey cited a decline in claims costs as a primary factor behind the continued decrease in rates.
McVey noted that the state's average cost per claim has consistently been lower than both national and regional averages, with losses declining by more than 20% between 2018 and 2022.
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