Guaranteed Cost

ToughComp specializes in writing small to medium sized workers compensation policies and offers a selection of Guaranteed Cost programs through A rated carriers.  In these programs the insured pays a fixed premium charged on a prospective basis without adjustment for loss experience during the policy period.  A rate is agreed on at the inception of the policy.    For most non hazard classes, premium quotations can be secured online here at www.ToughComp.com.

Deductible

ToughComp offers Deductible Plans for Workers’ Compensation under which the insured retains responsibility for each loss up to the deductible amount and the insurer remains responsible for claims payment in excess of the deductible.  Companies that can expect to have little frequency or can project the number and type of claims they will have will likely be able to benefit from deductible plans.  Under deductible plans, administration of claims can be bundled with the purchase of insurance and performed by the insurance carrier, or purchased separately and handled by a third party administrator.

Captive

Captives can often provide lower net costs as the captive owner may receive both the underwriting profit and the investment income from their insurance program. Premium paid by the company to its captive may be also be tax deductible.  Captive is a form of self insurance.

Safety Groups

ToughComp offers Workers’ Compensation Safety Groups as an approach to Workers’ Compensation coverage for a similar group of companies.  Safety Groups often provide homogeneous risks with specific loss control services that overtime help reduce losses.  Many Safety Groups also have a feature of profit sharing when the overall group performs well, many giving back as much as 25% of the premium paid.

 

If you would like to receive a proposal for consideration, please contact us.