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SELF-INSURANCE BASICS
ADVANTAGES Self-Insurance, provided under current Captive laws,
provides Business Owners the ability to develop and administer their own
Property and Casualty and Employee Benefit risk transfer strategies more
specifically to the actual costs and expenses. Most importantly, the Business Owner
becomes more involved and responsible for the claims response process. Poor claims management is where the LEAK is
at for most insurance programs managed by most commercial insurance
companies. It becomes pure economics
for them. A correctly designed and
administered self-insured plan should realize a savings of from 10-30% as
compared to the traditional commercial insurance program today. It becomes a question of the Self-Insured Business
Owners, or group of business owners in the same Industry, transferring the
insurance risks of their business, i.e., property exposures, liability
claims, and employee benefits, to a Self Insured business owner controlled
program, or the Commercial Insurance Industries INDEMNITY plan? |
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F. Darrell Lindsey State Approved Captive/RRG Manager |
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BACK – USE ARROW TO PRINT USE PRINT PREVIEW |
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