Trade Service Industry
You need a partner that can help you mitigate high operational risks and build your workforce with benefits that protect your margins and your people.
Trade Service Industry Benefits to Protect Your People and Your Margins
NFP helps trade service organizations – and the skilled trades and maintenance teams that power them – address the realities of demanding, physically intensive and irregular work. From managing safety and injury risk to building long-term retention and succession strategies, we align benefits, risk management and workforce planning with the day-to-day challenges of trade labor and field operations.
We provide trade service industry employee benefits strategies that include:
Ancillary Benefits and Disability
Many trades firms provide health insurance but overlook accident, disability and hospitalization coverage which are essential protections in high-risk physical jobs.
Rx and Transparency
Pharmacy costs often rise unchecked, leaving fiduciary gaps under CAA/ERISA. Carve-outs and formulary management bring control and compliance.
Executive and Key Person Benefits
Trades businesses rely heavily on supervisors, master technicians and shop managers. Incentives and retention plans protect against costly turnover.
Retirement and Financial Wellness
Skilled laborers often lack access to meaningful financial planning. Strong retirement plans and financial education improve retention and loyalty.
Wellbeing and Workforce Planning
Fatigue, musculoskeletal injuries and irregular shifts create safety risks. Pairing wellbeing and workforce analytics improves productivity and engagement.
The Problem
An HVAC services company with around 600 employees was rapidly growing through acquisitions. Their former broker put them in a funding strategy that cost too much money in fixed costs to support the plan, even though the broker knew the growth they were going to experience. They wanted to partner with a firm that would be able to support their growth and provide strategic guidance to effectively manage costs on their healthcare plan.
The NFP Solution
The NFP team moved the client to a self-funded arrangement lower the plan's fixed costs, carved out pharmacy for better and stronger PBM contracts and deployed point solutions to control healthcare costs. The team deployed a call center to lower the workload for the HR team and created a strategy communications plan to help employees understand, appreciate and utilize their benefits.
Protect your trade service business with tailored benefits and insurance.
Connect with an NFP specialist today.
Insurance for Maintenance Businesses and Skilled Trades
Skilled trades and maintenance providers face operational risks tied to worksites, tools and employees. Navigate contractual, operational and technological risks with the guidance of experienced advisors dedicated to minimizing your exposure and project disruptions.
NFP builds tailored insurance programs to cover liability, property, auto and workers’ compensation exposures, ensuring contractors and service providers can stay focused on their work.
We help support skilled trades and maintenance providers with:
Commercial Auto Insurance
Comprehensive protection for your cars, drivers and facilities.
Inland Marine Coverage for Tools and Equipment
Protection for your movable assets, whether in transit or at a fixed location.
Workers’ Compensation
Help with claims, lowering risks and ensuring injured workers get the medical care they need to quickly recover and return to work.
Surety Bonds
Assistance navigating and obtaining legally binding and sometimes required contractual agreements between the parties involved in a work project. Learn more about our surety bond offerings.
Employment Practices Liability (EPLI)
Protection against workplace discrimination, harassment and wrongful termination claims.
Cutting-Edge Technology
Enhance efficiency with advanced tools such as reality capture and supply chain intelligence platforms, supporting better project management and informed decision-making.
The Problem
A security installation contractor with approximately 2,500 employees was unhappy with their rising costs of auto insurance. The client had around 1,700 drivers across 38 states. They didn’t have a firm understanding of the risks they were undertaking and the controls that needed to be in place to keep costs down.
The NFP Solution
After a thorough risk analysis, the NFP team figured out that the problem was a lack of driver safety training as well as other overall risk management and loss prevention tools. The team implemented a new driver safety policy and training. The team also worked with the client to propose a new personal auto insurance tracking system to track the personal declarations for each non-owned driver that included specific requirements of insurance.
Our Expertise in Action
See how our experts are implementing solutions for today's risk, workforce, wealth management and retirement challenges.
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We’re here for you, whether you know exactly what you need or just know you need a partner to help advocate for your business, your people or your life.
