Profit Sharing Workers Compensation

Save Thousands On Cost Of Workers Compensation:

Business Owners now have available the most cost effect method of controlling workers compensation cost through participation with a select group of employers who are committed to safety in the work place. The same concept that Fortune 500 companies and employers paying over 1 million in workers compensation premiums manage their cost is now available to business owners. By participating in a group workers compensation Captive program sponsored by the American Consolidated Business Owners Alliance, (ACBOA) your company could save thousands.

The Savings Advantage:

The American Consolidated Business Owners Alliance through their consultant partners are making available their exclusive Profit Sharing Group Workers Compensation Program to business owner members that qualify. Most business owners seldom benefit from their long history of on the job safety in the work place. The underwriting profits, as a result of their safety record, are retained by the insurance companies and stockholders for the benefit of the corporate structure. Most business owners who have maintained a safe work place have consistently fewer claims with little or no benefits to their company’s bottom line.

Your Company Can Be Rewarded For Work Place Safety:

Now for the first time small business owners can share in their companies worker’s compensation underwriting profits by participating with a select group of safety minded employers. Members share in the profits of the group based on each participating company claims experience. Your company receives the profits in lieu of the insurance company. An estimated savings of 25% or more from members result in thousands of dollars being added to your bottom line. Your company is rewarded for its outstanding safety record. That can be substantial! The average ACBOA member has produced a workers compensation underwriting profit 4 out of the past 5 years.

To Qualify:

To qualify, member companies must have a proven above average safety record for the past three to five years and maintain minimum work place safety standards. Each application submitted must meet the underwriting guidelines of the insurance companies as well as the standards established by the ACBOA Selection Committee. Participating member companies must have a positive financial net worth.

Aggressive Claims Management:

A leading third party national company will be responsible for handling and managing day to day claims. The insurance company, ACBOA Selection Committee, and medical managed care company review the claims to assure they are managed timely with the mission objective of returning the injured employee back to work. Members can be assured all workers compensation claims will be handled timely, professionally and cost effectively when work related accidents occur.

Medical Managed Care Provider:

Every new claim received is reviewed by a Telephonic Nurse Manager to assure quality medical care, aid in recovery time, encourage early return to work, and promote prompt medical updates. When a serious and complex injury occurs, a trained professional Medical Field Case Manager is assigned to be on site for each medical visit, to monitor patient quality care and to provide timely communications and progress. Medical management is a tested system that has proven to improve patient recovery time as well as aiding in the reduction of unnecessary litigation.

Work Place Safety:

Each member will receive a visit from an experienced and qualified Safety Consultant. Work place safety and accident prevention pay dividends to both the employer and participating member companies. The best way to manage claims is to prevent them. Additional technical assistance is available as needed. Developing a workable safety program for your company will save considerably in areas of hidden cost including immediate first aid, rehiring and retraining employees, lost production, additional administrative expenses and increase in experience modification factor. Work place safety is a top priority.

Monthly Payroll Reporting:

Members report payrolls and pay premiums at the end of each month for their actual exposure to better manage cash flow during these challenging economic times. This method avoids the additional and unexpected year-end audit premium, as well as the impact on cash flow from overpaying the monthly premiums of a traditional workers compensation policy. The pay as you go concept, improves the participating members cash flow position.

Deposit Is Your Investment In Profit Sharing:

In lieu of paying an annual down payment, participating members contribute a one time deposit, 25% of premium to ACBOA managed captive (Preferred Commercial, LLC.) These funds are used to participate in securing the membership interest known as the Gap before reinsurance participation in the event claims exceed the loss fund. Your deposit is an investment with low risk that provides members the opportunity to share in underwriting profits. Your investment is an asset of your company.

Incredible Opportunity For The Safety Conscious Business Owner:

ACBOA Workers compensation profit sharing is a preferred program for the safety conscious employer who has maintained a consistent on the job safety record. The business owner must qualify by meeting the underwriting standards of the insurance company and the criteria of the ACBOA Selection Committee. If your company is approved for participation, you have the opportunity to improve your bottom line by sharing in underwriting profits with a select group of business owners who share the same concerns regarding work place safety. Although there is some risk to participating members the potential return could be impressive for many years.

Application Approval Process:

The ACBOA Profit Sharing Program Selection Committee has requested completed applications be submitted a minimum of 10 days prior to the effective date to provide time for the committee to review. Each application must meet the guidelines of the insurance company and approved by their underwriting department and ACBOA Selection Committee. Checks payable to the program will not be deposited until application is approved and owner is advised of acceptance. Coverage is not in effect until written binders have been issued.

Join Us Today!

You are invited to join today with a group of business owners who share a common goal of maintaining a safe work place environment. Each has decided they want to be rewarded for their good safety record. It is time your company receive the profits for maintaining a safe work place and not your insurance company. Lets get started, join today, the savings could be thousands.

About ACBOA:

ACBOA Profit Sharing Workers Compensation Program is an exclusive program of the ACBOA Insurance Center managed by Ramsgate Program Managers a division of Ramsgate Insurance Inc Profit Sharing Workers Compensation is a sponsored program of the American Business Owners Alliance provided as a membership service to participating ACBOA members who have met the standards to qualify as established by the ACBOA Selection Committee. ACBOA in a not for profit trade association headquartered in Washington DC.