Premier's Excess Workers Compensation Sponsored Program

Our program partner is Safety National Casualty Corporation and there are numerous advantages to placing coverage through Premier's unique program. 

 

We currently have over 65 members and that number continues to grow.  We had a great year in 2010 and our program premium is now over $17 million.  We have enjoyed retention levels between 95%-100% for the past 3 years and we attribute that to the value that our program offers our insureds.

The two endorsements you see listed, Cash Flow Protection and Same Communicable Disease, are not standard through all carriers and while they can be added, they typically result in additional premiums.  These enhanced coverages are included at no additional charge through the Premier partnership we have developed with Safety National. 

 

The Best Doctors program is an important free service (up to 30 days, with a discounted rate for continued use) that is included with the policy.  This program combines medical expertise, resources and a proactive approach for injured workers.  Early intervention in workers' compensation injuries can improve medical outcomes.  This is a voluntary program and will not affect your policy coverage if you do not use it; however, getting the right care at the right time is critical to a successful recovery. 

Safety National’s loss control service philosophy is to match resources with our client's needs by utilizing highly-qualified independent consultants and overseeing the process to ensure a successful outcome.  We work with a number of established consulting firms including Bureau Veritas, CCMSI, 1Source Safety & Health, Packer Environmental, PRN Ergonomics, Safety Management Group and Safety Resources, just to name a few. Through this process, Safety National has developed – MAP (Management, Analysis and Prevention), a dynamic risk control platform that is offered to our program participants at no additional premium.

The most important feature of our Premier EWC Program is the Premier Profit-Sharing element and that alone adds significant value for our participants.  To follow is our generic description of the profit sharing feature that is a significant element of our excess workers' compensation program.  Note that our contract with Safety National has the potential to return up to 30% of annual premium for each program year subject to good GROUP/PROGRAM loss experience. The first calculation is not done until 3 years after the end of the PY (Sept 1-Sept 1). There are a total of 5 annual calculations that are done for each PY. As long as the results for each PY calculation are positive, there would be a return to PIMS.  PIMS returns the monies to those participants who are current and active in the Excess Workers' compensation program at the time the calculation is contractually due. Please note that group, not individual, loss experience impacts the calculations. Once profit share monies have been disbursed, there is no pay-back to Safety National/PIMS even if group loss experience deteriorates in future calculations, i.e. there are no retro assessments.  As indicated in the chart above, this program could potential bring financial savings to your insured.