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 Premium Development  


The development of premium is determined by utilizing a time-tested experience rated formula that is based primarily on a member's individual loss history. Claims experience, exposure and premium data is collected for each member's previous five-year history. This data is trended and developed by the actuarial service partner. The actuary produces what they believe a member's predictable losses will be and allocates an amount for shock losses above $125,000, which then becomes the member's loss fund for a given underwriting period. Operating costs for the program such as excess reinsurance, policy issuance, claims service, administration, etc. are calculated for each member.


 Membership Criteria  


Because each member of the TRAX program is an owner, the following baseline requirements for membership have been established to ensure the quality of the participants, as well as the long-term strength of our Company.
  1. Strong Management Commitment to Safety and Claims Oversight
  2. Profitable and Financially Stable
  3. Loss Experience Better than Average for Respective Industry Group
  4. Regular Attendance and Participation in Board Meetings and Risk Control Workshops
  5. Business Philosophy Compatible with TRAX

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