PROVIDING CLIENTS WITH
SUPERIOR WORKERS’
COMPENSATION NAVIGATION
TEMPORARY STAFFING WORKERS’ COMPENSATION INSURANCE
There are several types of Workers’ Compensation plans available. At Nixer Comp, we strive to find solutions that are the best fit for our client-insureds. This may mean utilizing a traditional Guaranteed Cost policy however, due to the success of our Program Pillars and strategic partnerships, our focus is in providing Staffing firms with a Workers’ Comp Deductible plan which achieves better results for our client-insureds.
SMALL & INTERMEDIATE DEDUCTIBLE PLAN
Small or Intermediate Deductible Plans allow an employer to retain a portion of each loss by means of a deductible. The insurance carrier is responsible for the management and payment of losses, and bills back the costs below the deductible to the employer. The employer experiences cash flow savings, has the opportunity to leverage good claims performance to reduce its Workers’ Compensation costs and, in some states, can reduce its experience modification factor as paid losses are reported less of the paid deductible.
A well-constructed and monitored deductible Workers’ Compensation plan can provide a meaningful reduction in an employer’s total cost of risk.
LARGE DEDUCTIBLE PROGRAM
Large Deductible Workers’ Compensation Plans allow the employer to take on most, if not all, the financial responsibilities of a loss, as the employer is still insured, the employer will reimburse the insurance company for losses within the deductible limit. The insurance company is responsible for claim costs in excess of the deductible and is ultimately responsible for the loss costs. Deductibles are per-accident/per-employee and billed reimbursed on a paid, not incurred, basis. Large deductibles do require collateral to be posted to secure these reimbursement payment obligations within the deductible limits. Deductible amounts vary by state.
Firms employing a holistic and initiative-taking approach to mitigating risk and controlling the cost of claims are able to save significant premium expenses.
Employers can benefit from:
- Increased Cash Flow
- Increased incentive for implementing loss-control and return-to-work programs
- Easy access and exit
- Possible tax savings
WHY DO OUR PLANS WORK FOR TEMPORARY STAFFING CLIENTS?
Our Program Pillars – from superior risk management strategies to claims advocacy and handling, consistent post-accident programs, return-to-work programs and positive involvement with the injured worker – produce a safe working environment and help reduce and control an employer’s losses and therefore costs.
With Nixer Comp, client-insureds can grow from a Small Deductible to an Intermediate Deductible and/or Large Deductible Plan as they reap the benefits of our risk management and claims strategies.
