NAWSRC Insurance Trust

In July 2004, the National Association of Waterproofing and Structural Repair Contractors, Inc. (NAWSRC) was introduced to the concept of a private insurance program that would lower the cost of business insurance premiums, while providing more complete insurance coverage. A committee was formed to investigate this captive insurance program and a study was made of the NAWSRC membership companies' insurance losses for the past five years. The study found that losses were much lower than previously thought and that there were no major problems or areas of concern. Yet, some members were paying $20,000-30,000 a year in business insurance premiums for incomplete or limited coverage.

The NAWSRC Insurance Trust was formed in 2005. The Trust is made up of the association's members who are insured through the program. The members pay premiums to the association peer review committee and the committee manages the risks.

One of the benefits of this insurance program is that people who are in the waterproofing and structural repair industry are in charge of making the claims decisions. When there is a claim, the board members of the NAWSRC Insurance Trust are partners with the field representative investigator. There are no more surprise claim payoffs because the insurance representative didn't understand the claim or he didn't understand the waterproofing and structural repair industry.

The planSMART™ Program means that, for the same premiums that we pay now, we can get much more comprehensive coverage. And, after three years, we will be earning discounts on our premiums. Stop paying higher premiums for less coverage. Start on the road to discounted premiums by joining the NAWSRC Insurance Trust planSMART™ Program today. The planSMART™ Program is only available to members of the National Association of Waterproofing and Structural Repair Contractors, Inc.