With workers' compensation costs rising, more and more large employers are considering self-insurance. Certain kinds of losses can be predictable and self-insurance is a more efficient way to pay for those losses.
REDUCED COSTS CAN COME FROM SEVERAL AREAS, INCLUDING:
Lower Fixed Costs (Program Administration)
Improved Claims Management
More detailed claims information from the claims administrator
Reduced Losses through better loss control
More overall control over claims
Improved Cash Flow
In addition, the self-insured employer gains more overall control of claims and receives more detailed claims information from the claims administrator.