For more than 15 years, members of our Workers' Compensation Self-Insurance Trust have enjoyed stable and reduced premiums.
How It Works
Participants pay an actuarially determined premium contribution annually. The trust that is created is protected against the impact of large claims or too many claims by purchasing “stop loss” reinsurance coverage. The difference between the member’s prepaid contributions and the ultimate cost of claims and program expenses, along with interest earned on the trust’s invested reserves, are returned to the participating facilities in the form of dividends.
- Lower on-going cost, achieved by concentrating on improving loss experience, conservative underwriting and controlling of administrative expenses
- Interest income on reserves can be used to reduce premiums to pay dividends to participating facilities
- Effective loss control programs and seminars for participants
- Participants own the program and run it through membership on the program’s Board of Directors