ARANY FAQ
What are the required Qualifications?
- You must be a member of ARANY
- One of the following Accreditations are preferred: Gold Seal, Certified Auto Recycler, ISO Certified
- Favorable Loss Experience
What is required for a Quote?
- Copy of expiring Workers
- Compensation Policy
- Renewal payroll by classification code
- Five year currently Valued Loss Runs
- Most Recent Audit
- Federal ID Number
- Contact information, Name, Address, email, fax number & phone numbers
Where do I send the quote information?
You can fill out the on-line form
Email to HF&C
How do I notify the State Fund, if they are the current Work Comp Carrier?
A reservation of rights letter should be sent to the State Fund 90 days in advance of your renewal. This will notify the State Fund that you have elected to pursue a quotation with another carrier. At that time, the State Fund will issue a cancellation as of the effective date of your renewal. Do not worry, they will still provide you with a quote, and payment will have to be made to them prior to the cancellation date, if you elect to continue to place your Work Comp coverage with them. However, this allows you to seek a quotation through the ARANY program and make the best decision for your organization.
What is the ARANY Captive?
- It is an insurance facility that is controlled by the association and its participating members.
- The initial purpose of the ARANY Captive is to insure the Workers’ Compensation risk of the association’s members.
- The Captive “pools” all of the participating member’s premiums and losses
- The participants of the Captive are the beneficiaries of the captive’s profits and investment results.
What are the benefits to the ARANY Members?
- The program should stabilize or reduce Workers’ Compensation cost through mass buying power and effective underwriting selection process.
- Each Participating member will share in the profits and investments of the program.
- Availability of first class claims and loss prevention services.
What are the benefits for the ARANY?
- Greater involvement in the section process for Worker’s Compensation Service Providers.
- A stronger product offering that will benefit ARANY membership and attract new members
- Active leadership in the underwriting, loss prevention and claims process via committee formation and member involvement.
- Program expansion to other lines of coverage
- Control & Flexibility
