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Self Insurance Services For Unique Insureds Looks At Bottom Line

J&L’s self insurance services assist self-insured employers with your unique needs. Self Insurance covers approximately 15% of the market for worker’s comp.  Self-insureds need to follow their claims much more closely than other types of insurance arrangements.  The claims adjusters spend directly from a self-insured employer’s budget.  

A self-insured employer needs to think of their carrier’s claim adjusters as an extension of the employer’s office.  Working directly with the claims staff usually results in the employer having a greater control over their finances.

Self-insureds do not have the buffer that the voluntary market insureds possess in their risk portfolios.   The Experience Modification System provides a buffer of sorts when voluntary market employers have a mega-claim.   The self-insured employer will face the mega-claim with only reinsurance as a backstop for their risk. 

Voluntary market insureds benefit from a buffer if a spate of claims occurs during their policy year.  Self-insureds do not benefit from this insuring arrangement.  

Self-insureds face the brunt of their claims expenditures with purely an insurance budget.  Reinsurance removes some of the risk for a claim or a group of claims.  The group of claims reinsurance is called the aggregate limit.  Aggregate limits vary by each self-insured.  

Once the claims for a certain period reach this limit, the reinsurer steps in pays the claims from that point.  The usual single claim reinsurance level sits at $250,000.

With the advent of AI in workers’ compensation many self insurance programs have become more complicated yet rewarding if the right program choices are made before the conversion to paying your claims “out of pocket.”

Almost all of our services can be applied to any type of self insurance.  Even the Mods of voluntary insurance can be calculated by creating Loss Development Factors or our patented Synthmods. 

Our self insurance services come from our founder’s background in self insurance

Self Insurance


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