Increased Premiums are Here!

Did you know that premiums for worker’s compensation insurance are expected to increase 20% in the coming year? In fact, those premium increases have already arrived (when does your worker’s compensation insurance policy period expire?) In addition, if you have experienced an increase in your experience mod, you can expect that increase to be even higher.

This type of unexpected surprise can be budget busters for companies that are unfamiliar with the changing insurance markets or that are inadequately serviced by current insurance providers.

Did you know that assuming your worker’s compensation risk through a captive insurance company can provide substantial premium and administrative cost savings when implemented and managed properly? A captive can also smooth the ever increasing cost of worker’s compensation insurance, thereby diminishing the impact to cash flow. Imagine taking back up to 80% of your current worker’s compensation premium into your newly formed captive!

The increase in insurance premiums for all types of insurance dictate that increasingly large numbers of companies will be seeking captive and risk management solutions from their insurance and professional service providers in the near future. Don’t be caught implementing your captive solution with substandard providers because of the high demand on captive formation and risk management professionals.

Contact us today and we will be happy to begin the process of determining whether a captive insurance company is an appropriate risk management and cash flow vehicle for reducing your hard insurance costs.