Struggling to manage insurance premiums for a very large company’s workers’ compensation policies is a very difficult task. However, there are incredibly helpful insurance companies that understand this predicament and provide creative policy solutions that will help you significantly cut costs and save money for your company. Find a company that offers the following plans to get excellent Delaware large account workers compensation.
Retrospective Rating Plans
One of the biggest challenges of managing a large account insurance policy is that you plan for a far greater amount of incidents than actual incidents that occur over the life of a policy. For that reason, a creative way to cut costs is to use a retrospective plan. As the name suggests, the premium isn’t set until after the policy’s life-span concludes, so you end up paying for any incidents that needed to be filed in that time, not for the extremely high amount of incidents that could happen given the size of your company.
A large deductible plan is a unique form of self-insurance that is ideal for any company that pays more than $500,000 in insurance premiums.
For more help determining which plan is right for you, find an excellent company that specializes in and offers Delaware large account workers compensation.