eagle north Specialty programs

Guaranteed cost plans are usually for small to midsize employers. For larger employers a guaranteed cost option is a more limited marketplace and could be prohibitively expensive so the alternative is for the employer to retain risk within the specific claims deductible and pay a fixed minimum premium much lower than the guaranteed cost or first dollar option. 

The advantages are manifold.

Such as;

· Significant premium savings vs guaranteed cost

· Large Deductible plans can improve employers’ cash flow

· Increased incentives to implement Loss Control that will ultimately reduce overall claims

· Give them more control over their Workers Compensation costs 

· Insured has significant influence on claim handing decisions up to the specific claim’s retention

· Possible tax savings depending on the program 

However, they are appropriate only for employers that understand and value the importance of controlling the claims' handling within the SIR (Self Insured Retention). For a Large deductible program to be successful it must implement a strict workplace safety and claims management program.

Eagle Risk Underwriting team has extensive background experience in large deductible programs and over the years built and implemented successful programs from the grounds up level with Insureds, their brokers and producers that offered various claims handling models, a bundled claims management through the Insurers affiliated TPA or an unbundled services model that give our clients control over the vendor selection.

large deductible programs are individually designed and insurers endorsements and costs vary. no two large deductible programs are alike. Each deducible program requires careful review to fully understand the advantages and disadvantages of the program as such, greater diligence is required to determine which large deductible program is best and how it compares to other workers compensation solutions.