Master Policies for PEO

Guaranteed Cost Workers’ Compensation Policy

A guaranteed cost workers’ compensation policy is a type of insurance plan that provides a fixed premium for a set period of time, usually one year. The premium is based on factors such as the employer’s payroll, industry, and claims history. The insurance company takes on the risk of covering all workers’ compensation claims. Guaranteed cost policies are the most common type of workers’ compensation plan. Below are some advantages and disadvantages of guaranteed cost workers’ compensation policies.

Master Policies for PEO

Advantages

Fixed Cost: The premium remains the same for the policy period, regardless of the insured’s losses.

All Inclusive: The premium covers all costs associated with losses and expenses.

Predictable: The predictable nature of guaranteed cost premiums makes them popular with small and mid-sized businesses.

Disdvantages

Higher Policy Year Costs: Guaranteed cost premiums usually cost more than loss-sensitive premiums.

No Savings on Good Years: The insured doesn’t save money if they have a low number of claims.

Subject to Market Whims: The insured is subject to market fluctuations.

The Importance of Employee Classification for Workers’ Compensation

Large Deductible Workers’ Comp. Plan

Stabilize Your Client’s Cash Flow. Get Your Master Workers’ Comp Policies.

Large deductible workers’ comp plans might not sound ideal to you, but for your insureds, they might be the best option. With a large deductible plan, business owners can save money on their operating costs when they have a more lower-priced premium. For some businesses, this extra money allows them to do so much more and scale their business with ease.

As a worker’s compensation provider, we know your goal is to deliver the best solution for each and every client you serve. That’s why we offer master policies with large deductibles specifically for PEOs.

With a large deductible master plan, you can supply your insured with more options to get the worker’s comp coverage they need. Don’t let high premiums cannibalize your client’s bottom line. Fill out the form below to explore how we can champion the best workers’ comp coverage together.

Ready to find out more? Getting started with PEO Insurance Brokers Network is easy.

01.

Fill out the form below.

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A representative will reach out to you.

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Set up coverage for your insured

Get Your Insured Top of the Line Workers’ Comp Coverage

Don’t let the occupational hazards associated with your industry stop you from insuring your client. Fill out the form below to explore how we can champion the best workers’ comp coverage together.

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