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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?

 

 

 

F. Darrell Lindsey

State Approved Captive/RRG Manager

U.S. State Licensed Agent/Broker

 

 

 

 

 

 

 

 

 

 

 

 

 

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