News

 

Synergy Insurance Company Introduces Large Deductible Program in Illinois

June 19, 2013

Synergy Insurance Company has filed and received approval from the Illinois Department of Insurance for a Large Deductible Program.  The Large Deductible Program will start with deductibles at $25K and up.  In order to be eligible for the Large Deductible Program in Illinois, a policy must have a minimum of $100K of estimated annual Workers Compensation Standard Premium.

Our Intermediate Deductible Program has shifted to now include the following deductibles: $10K, $15K, and $20K, and the Small Deductible Program has not changed, which is $1K.

Although this change currently affects Illinois, the remaining five states that we serve (North Carolina, South Carolina, Virginia, Georgia, and Indiana) will be filed and are expected to be approved within the year.

Please contact your Underwriting Representative if you have any questions about this change, or any other product offerings of Synergy Insurance Company.