With compulsory liability products, such as employers’ liability, insurers are traditionally unable to deduct an excess from any claim settlement. But for some companies, using a large deductible to reduce their premium is an effective way of managing their insurance costs.
If you choose this option, your insurer may require an insurance deductible guarantee bond (or letter of credit) as security against the risk of your non-payment of the deductible in the event of your insolvency.
Providing that guarantee is where TMHCC can support you.
Best for
- Large firms with substantial compulsory liability insurance policies
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