Excess Workers' Compensation
Gene Maier, Gary Cooper, Linda Hennemann and Marc Welliver discuss Safety National's Excess Workers' Compensation coverage
We've been providing Excess Workers' Compensation insurance to self-insured employers since 1942. These employers have discovered that self-insurance makes sense. Self-insurance offers what today's employers need in a risk management program: more control, aggressive claims management, and improved cash flow advantages not found in first dollar programs.Control
Control is crucial to an effective insurance program for today's employer. First dollar programs do not offer the strict cost control measures necessary to minimize work-related injuries and their high cost to the employer. The solution is self-insurance. Self-insuring makes workers' compensation a controllable part of the management process; one that benefits the employer in both human and financial terms.Claims Management
Employers know the significance of vigorous workers' compensation claims handling. With the lion's share of every insurance dollar paid out in claims to injured workers, it only makes sense to focus efforts where they'll have the most benefit. Self-insured employers hire Third Party Administrators that offer high quality claims management services to help them keep expenses at their lowest possible levels. High quality claims management and minimal expense is something with which all employers can identify.
The employer's choice: large payout to a first dollar insurance provider or low start-up costs with self-insurance. The answer is clear. Low start-up costs mean the self-insured employers can keep their money right where it belongs -- in their own bank account. Any funds not immediately needed to pay claims stay with the employer until they are needed. In fact, it's not unusual for workers' compensation claims to be paid out over a number of years creating a significant cash flow advantage for the employer.
Our policyholders fall into two categories; stand alone self-insureds or association programs.
Our stand alone policyholders are single employers who have discovered the advantages of self-insurance. They receive approval from their state regulatory agency as qualified self-insurers and now reap the benefits of being in control by applying high quality claims management practices and keeping their cash flow in-house.
Our association policyholders go by a variety of names: pools, groups, trusts, funds, cooperatives and agencies. These are all terms used to describe groups of employers that have joined together to self-insure their workers' compensation exposures. Typically, these groups consist of smaller employers that might not otherwise be large enough to self-insure on their own. Safety National is the country's premier writer of excess coverage for groups such as these. Our association staff sets the industry standard in ability and expertise.Our Product
For the self-insured employer, no one provides a more comprehensive line of products and services than Safety National. No one even comes close. Our policy form represents the state of the art in Excess Workers' Compensation insurance. We provide Specific Excess coverage from attachment points as low as $250,000 per occurrence for most classes of business, with Statutory Limits available. We also provide Aggregate Excess coverage at competitive Loss Fund attachment points with the flexibility to provide limits to meet the needs of most self-insured employers. Our multi-year policy terms give self-insureds with longer horizons an extra degree of security. Above all, our high level of dedication, knowledge, and quality service indeed make us the Experts in Self-insured Workers' Compensation.