Structuring
Our Customized Insurance programs start with a thorough understanding of your business and risk profile. Our experts collaborate with you to design a structure that meets your strategic goals, offering single or multi-layered traditional coverage, innovative risk transfer solutions, or a tailored combination of both.
We consider factors such as:
With Nova, you get a partner who is committed to creating a program that not only protects your business but also enhances your risk management strategy.
- Types of risks to be covered
- Optimal coverage limits and deductibles
- Integration with your existing risk management framework, with focus on Risk Appetite and Risk Capacity
- Compliance with regulatory requirements
Fronting contacts
Pricing and capitalizing your insurance or reinsurance program accurately is crucial for its success. At Nova, we leverage our underwriting expertise and actuarial capabilities to develop pricing and issuance models that reflect your true risk exposure, facilitating fronting arrangements that benefit all parties.
Our transparent approach ensures that you understand the cost drivers and can make informed decisions.
Additionally, if your program requires a fronting insurer to meet regulatory or market requirements, we help you find the right partners. Our established relationships with reputable admitted insurers allow us to secure favorable terms and seamless integration into your program.
Self-insurance
Self-insurance can be a powerful tool for businesses looking to take control of their risks, reduce costs, and enhance their risk management strategy. Through our Customized Insurance and Reinsurance Program, we help you design and implement self-insurance solutions within our SPC platform.
Key benefits include:
Robust Pricing and Capitalization model based on rigorous analysis
Access to a network of trusted fronting insurers
Streamlined processes for policy issuance and compliance
Our approach includes:
- Assessing your risk retention capacity
- Structuring self-insured layers to optimize cost and coverage
- Providing the right partners to support claims management and loss control strategies
By partnering with Nova, you gain the flexibility to self-insure while benefiting from our expertise and infrastructure, ensuring that your self-insurance program is robust and effective.
