Friday, August 8, 2008

New Insurance Company for Staffing Firms

American Staffing Assurance Company
1246 Berkshire Road
Grosse Pointe Park, MI 48230-1035


Contact: James C. Farber
(313) 881-8069
GROSSE POINTE PARK, MI, July 8, 2008: For years, the Staffing Industry has struggled to find insurers capable of providing the necessary liability protection and risk control services to help them lower costs and maximize their service to clients.
That’s about to change.
The American Staffing Assurance Company is the first insurance organization created solely to provide comprehensive insurance solutions for the Staffing Industry. Its wide-ranging Program now offers staffing firms a pro-active risk management strategy designed specifically by professionals with the creativity and considerable experience necessary to assist this underserved industry.
“Staffing firms have traditionally been treated poorly by the insurance industry,” says ASAC president James C. Farber. “With sound risk management, industry specific risk control services and people who know the business, we can help companies reduce their costs and increase profitability.”

Because the ASAC Program is an all-lines offering, tailored specifically to the staffing industry and implemented by professionals with knowledge of firms’ unique needs, it can target and solve the problems faced by companies that have varied, multi-state risk exposures. It is underwritten by the SPARTA Insurance Company, which is licensed in 52 jurisdictions and rated A- (Excellent) by A.M. Best, thereby giving firms coverage wherever their contract employees may be working.
The ASAC Program offers more than just an insurance policy, and that brings added value to clients. Through its partnership with Risk Control Services (RCS), the Program provides a comprehensive approach to help staffing firms manage their risks by assessing current circumstances and recommending best-practice strategies that limit exposure and provide long-term cost savings. By heading off potential problems and correcting previous troubles, ASAC can help firms operate more safely, effectively and inexpensively. That’s an advantage no other company can offer the Staffing Industry.
"Because ASAC was formed specifically for the Staffing Industry, we understand its unique needs and can implement strategies which will help firms demonstrate a commitment to safe business practices,” says Bill Secinaro, Chief Marketing Officer for the ASAC Program. “That is attractive to staffing firms’ potential clients.”

The ASAC Program is distributed through exclusive agents. These insurance professionals have considerable knowledge of the risk management needs and solutions for the Staffing Industry. Each agent’s vast experience allows him to fill the role of risk manager for a firm and provide ongoing support and service that anticipates and meets future needs.
That industry-specific service is the hallmark of ASAC’s approach and is born out of years of experience. In 1997, Farber developed a comprehensive (Property, Casualty, Workers Compensation) program for the National Technical Services Association that broke new ground and allowed technical staffing companies to reduce their liability and bolster their bottom lines.
“Our experience in this industry allows us to provide services which no one else can,” Farber says. “And because we know the unique challenges faced by staffing firms, and have made a long-term commitment to the industry, we can anticipate the needs of our clients and provide cost-effective solutions that will keep them clear of significant problems and allow them to work better with their clients to solidify long-term business relationships.”
American Staffing Assurance Company provides Staffing Firms with the education, tools and risk transfer solutions necessary to consistently realize their lowest ultimate cost of risk.


SPARTA Insurance Holdings, Inc. (SPARTA) was formed in March, 2007 to develop an underwriting company specializing in unbundled Alternative Risk Transfer ("ART") and Specialty programs for the commercial property and casualty insurance market in the United States.
In August 2007, SPARTA received regulatory approval from the Massachusetts Insurance Division to acquire a 52 jurisdiction licensed insurance company shell that it renamed SPARTA Insurance Company. Upon approval of the acquisition, SPARTA Insurance Company received an A-(Excellent) rating from A.M. Best.
Sparta Insurance Company has $255 million of statutory surplus, an A.M. Best financial size category IX.
SPARTA is an acronym for Specialty Program and Risk Transfer Alternatives. SPARTA's vision is to be the premier provider of customized unbundled program solutions. All insurance coverages are issued through SPARTA Insurance Company on a fully admitted basis.
The company operates in two niche property and casualty insurance segments:
Alternative Risk Transfer Programs ("ART") providing program level risk sharing through captive reinsurance

Specialty Insurance Programs ("Specialty") whereby the risk is fully retained by SPARTA
Programs typically average from $10 to $15 million in annual gross written premium and demonstrate a high degree of homogeneity by:
Industry Sector, or
Territory, or
Controlled Production Source
SPARTA's exclusive focus on and long term commitment to the unbundled program market, breadth of product offering along the continuum of risk sharing, unparalleled expertise, and leading edge technology have positioned SPARTA to become the carrier of choice in the ART and Specialty Program marketplace.
SPARTA is headquartered in Hartford, CT.



RCS' operational consulting is based on a simple premise: when your product is people, control over workers compensation expenses translates directly into profitability. The mission of RCS is to help clients increase profitability by realizing effective control over what is one of a staffing firm's most significant costs after payroll.
Since its inception in 1990, 700+ staffing clients have enhanced profitability through RCS' Strategic Risk Management Consulting. The RCS staff, comprised of industry leading experts, provide consulting and field services in a multitude of staffing disciplines, as well as in other non-staffing related industries. RCS consultants boast credentials and field experience second to none, including: Certified Safety Professionals, Associates in Risk Management, etc..
Specific risk management training and programming is available to general industry and staffing sectors including: Healthcare, Professional & Technical, Hospitality, Drivers, Logistics, Engineering, Skilled Trades, Commercial, and Clerical. RCS programming provides the basis for nationally recognized certification programs.

RCS provides the structure to understand a staffing firm's exposure to loss. RCS analyzes all aspects of a staffing firm's operations and quantifies opportunities for control. RCS benchmark systems offer insight into loss prevention, loss control, corporate infrastructure and risk financing strategies.
Effective risk management is more than corporate policy; it is corporate culture. RCS Services provides ongoing assistance implementing risk management methodologies. Through interactive training, third party monitoring, online technology, accentuating products and outsourced safety services, RCS provides solutions for the continued development of risk management culture.



Anonymous said...

Mr. Farber, Powerful is the best way to describe the quality of the information on your blog.In an era when so much changes for staffing companies, ASAC is a breath of fresh air. Thanks

employers liability insurance said...

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