March 10, 2010
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Welcome Letter

We are pleased to announce several upgrades and changes to the Trowel Trades Industry Insurance Company ("Trowel Trades"), a captive insurance company designed to respond to the needs of the International Union of Bricklayers and Allied Craftworkers' ("BAC") signatory contractors.

At the end of 2008, Trowel Trades entered into an agreement with ULLICO Casualty Group Inc. ("ULLICO Casualty Group") to serve as program manager, and with ULLICO Casualty Company ("ULLICO Casualty") as fronting provider.* Trowel Trades made this change for several reasons. First, this arrangement will enable Trowel Trades to continue to operate as a captive insurance company offering workers' compensation at favorable rates so that BAC signatory contractors can:

  • Increase control over their insurance program;
  • Decrease insurance costs;
  • Stabilize year-to-year pricing; and
  • Access high quality service partners.

Second, ULLICO Casualty is positioned to directly provide a series of other insurance products at competitive rates to BAC signatory contractors, including access to: Surety and Wage & Welfare bonds, General Liability, and Auto insurance.

Finally, ULLICO Casualty understands unions and appreciates the excellent craft and safety training of BAC signatory contractors' employees, and the important role that training plays in reducing the probability of on-the-job accidents. Trowel Trades offers the opportunity to realize profits on the lower probability of on-the-job accidents, so participation may result in a lower cost for workers' compensation coverage.

Applications to participate in Trowel Trades should be directed to ULLICO Casualty Group. You can have your insurance broker contact ULLICO Casualty Group or you can contact them directly for a proposal. ULLICO Casualty Group will not share contractor-specific information with BAC or with other contractors.

We look forward to a successful venture together.

Sincerely,

John J. Flynn
BAC President
 Fred Kinateder
ICE President

* ULLICO Casualty Group is an affiliate of ULLICO Casualty and both companies are subsidiaries of ULLICO Inc., the holding company. Products may not be available in all states. ULLICO Casualty Group Inc. in CA, ULLICO Insurance Agency Inc. Lic# 0E16939, in NY, ULLICO Casualty Agency.