BASIC contracts with Sedgwick to handle the day-to-day operations of the group providing underwriting, financial, claims, litigation and general risk management.
BASIC purchases reinsurance and excess insurance to cover losses that exceed BASIC’s Pooled Program Layer.
Property Coverage provides coverage for all risks of direct physical damage on real property, personal property, business interruption, and boiler and machinery breakdowns.
Auto Physical Damage Coverage provides collision, specified perils coverage, and comprehensive coverage for all scheduled vehicles within a policy period.
BASIC provides Crime coverage of up to $1 million above the member’s deductible of $10,000.
Duff and Phelps E-Risk Reporting