Am I Big Enough To Self-Insure?

Written by on 4/4/2016 3:14 AM in , . It has 1 Comments.


Workman's comp insurance is well suited for self-insurance, though this may not be the right move for every organization. Careful consideration must be given to determine whether self-insurance is a good fit for you. Decisions should not be made by a single individual, risk manager or owner. A host of factors must be considered, without which, the chances of success are minute…

  • Financial condition.
    Does your organization have the financial resources to fund startup costs as well as upkeep and future claims? A strong cash flow and substantial cash reserves are essential to handle the large fluctuations associated with self-insurance. Checking your state’s minimum net worth requirements for self-insurance first may prevent wasted energy.
  • Management commitment.
    Are managers prepared to handle the long-term commitment necessary, trading known risk for unknown risk? Are managers willing/prepared to be proactive and hands-on in claim prevention? Will the decision be amicable to customers, business partners, and stockholders?
  • Cost and availability of internal and external support systems.
    What can your organization handle in-house? Responsibilities that must be outsourced to the expert or informed can quickly add up to big money. Can you identify and economically utilize internal resources for these services?
    • Pricing negotiations with medical service providers
    • Cost projections for current – and future - claims
    • Medical and legal claims evaluation and processing
    • Development and implementation of safety and loss control programs
  • Characteristics of exposure.
    The state(s) in which you operate can play a key role in your decision. State requirements vary, and multi-state organizations can incur significant administrative costs.

Exploring alternatives to workman's comp insurance? There’s more than one way to save. Consult the experts at Minnesota Comp Advisor today.

Comments

Got something to say? Join the discussion »
  1. yanxia39's avatar yanxia39
    http://www.ray--bansunglassess.us.com/ ray ban eyeglasses
    http://www.skechersuk.co.uk/ skechers outlet
    http://www.pandora-jewelrysale.us.com/ pandora charms
    http://www.goyardbackpack.us.com/ goyard backpack
    http://www.james-hardenshoes.us.com/ harden vol 1
    http://www.pandorasjewelry.co.uk/ pandora jewelry
    http://www.pandorajewelryscharms.us.com/ pandora jewelry official site
    http://www.nikeair-max90.co.uk/ nike air max 90
    http://www.michael-kors-bags.us.com/ michael kors purse
    http://www.christianlouboutinredbottoms.us.com/ louboutin
    http://www.monclerjacketmens.us.com/ moncler jacket mens
    http://www.birkenstock--sandals.us.com/ birkenstock sandals
    http://www.supremeshirt.us.com/ supreme shirt
    http://www.swarovskisjewelry.us.com/ swarovski rings
    http://www.bvlgaris.us.com/ bvlgari wallet
    http://www.ralphlaurenspoloshirts.us.com/ ralph lauren polo shirts
    http://www.lebron15-shoes.us.com/ lebron 15
    http://www.nike-huaraches.us.com/ huaraches
    http://www.salomon--shoes.us.com/ Salomon Speedcross 3
    http://www.adidas-yeezyboost350.us.com/ yeezy
    http://www.adidas-superstarshoes.us.com/ adidas superstar shoes
    http://www.pandorajewelryrings.us.com/ pandora rings
    http://www.kevin-durant-shoes.us.com/ kevin durant shoes
    http://www.true--religion.us.com/ true religion jeans for women
    http://www.new--balance.us.com/ new balance running shoes women
    http://www.redbottoms-louboutin.us.com/ red bottom shoes
    http://www.kyrie-4.us.com/ nike kyire
    http://www.fitflop--sandals.us.com/ fitflop sandals
    http://www.adidasyeezy-350.us.com/ yeezy
    http://www.pandora--jewelrys.us.com/ pandora jewelry
    http://www.kyrie-irving-shoes.us.com/ nike kyrie
    http://www.adidasoriginalsultraboost.us.com/ adidas originals ultra boost
    http://www.nikeairmax-97.us.com/ air max 97 silver bullet
    http://www.airjordan11spacejam.us.com/ jordan 11
    http://www.jimmychooheels.us.com/ jimmy choo trainers
    http://www.pandoraearrings.us.com/ pandora bracelet
    http://www.stephen-curry-shoes.us.com/ stephen curry
    http://www.curry4-shoes.us.com/ curry shoes
    http://www.adidasnmdrunnerr1.us.com/ nmd adidas
    http://www.adidasnmd-womens.us.com/ adidas nmd
    http://www.mcm--bags.us.com/ mcm backpack
    http://www.eccoshoesoutlets.us.com/ ecco mens shoes
    http://www.birkenstocksandalssale.us.com/ birkenstock shoes
    http://www.huaraches.us.com/ huarache shoes
    http://www.adidasyeezys.org.uk/ yeezy
    http://www.fitflop--shoes.us.com/ fitflop
    http://www.air-max-90.us.com/ air max 90
    http://www.ralphlauren--polo.us.com/ ralph lauren dresses
    http://www.nike--vapormax.us.com/ nike vapor max
    http://www.burberrys.org.uk/ burberry purses
    http://www.pandoras-uk.co.uk/ pandora jewelry
    http://www.mulberrys.org.uk/ mulberry bag
    http://www.longchampbackpack.us.com/ longchamp backpack
    http://www.valentino--shoes.us.com/ valentino shoes
    http://www.adidasoriginalsnmd.us.com/ adidas nmd r1
    http://www.nike--shoes.co.uk/ nike air max
    http://www.swarovskis.us.com/ swarovski jewelry
    http://www.salomon-boots.us.com/ salomon speedcross 3
    http://www.monclerjacketwomens.us.com/ moncler coat
    http://www.nikeair-max.co.uk/ nike air max 97
    http://www.goyardbag.us.com/ goyard bag
    http://www.cartier-bracelet.us.com/ cartier glasses
    http://www.vapormaxs.us.com/ air vapormax
    http://www.air-max-95.us.com/ nike air max 95
    http://www.chrome--hearts.us.com/ chrome hearts sunglasses
    http://www.salomonspeedcross3.us.com/ salomon speedcross 4
    http://www.jordans11shoes.us.com/ jordan 11 space jam
    http://www.chromehearts-jewelry.us.com/ chrome hearts bracelet
    http://www.fitflopsshoes.us.com/ fitflop sale
    http://www.lacosteshirts.us.com/ lacoste shirts
    http://www.michaelkors-handbagss.us.com/ michael kors handbags
    http://www.balenciaga--shoes.us.com/ balenciaga sneakers
    http://www.polo-ralph-lauren.org.uk/ ralph lauren, polo
    http://www.northface-jacket.us.com/ north face jacket
    http://www.nikeairmax-95.us.com/ nike air max 95
    http://www.nikelebron15.us.com/ lebron
    http://www.uggs-forwomen.us.com/ ugg
    http://www.montblancs.us.com/ mont blanc outlet
    http://www.truereligion--jeans.us.com/ true religion
    http://www.katespade--outlet.us.com/ kate spade purses
    http://www.hermes--belt.us.com/ hermes belt
    http://www.rayban--glasses.us.com/ ray ban
    http://www.katespadepurses.us.com/ kate spade purses
    http://www.burberry--scarf.us.com/ burberry bags
    http://www.burberry-bags.us.com/ burberry wallet
    http://www.barbours.org.uk/ barbour wax jacket
    http://www.salvatore-ferragamo.us.com/ salvatore
    http://www.mulberry-handbags.us.com/ mulberry sale
    http://www.pandora-charmsjewelry.us.com/ pandora rings
    http://www.louboutinredbottoms.us.com/ louboutin shoes
    http://www.redbottom--shoes.us.com/ louboutin
    http://www.yeezyboost350--v2.us.com/ adidas yeezy
    http://www.barbourjackets.co.uk/ barbour jacket
    http://www.adidas-yeezy-shoes.us.com/ Yeezy
    http://www.under-armour-shoes.us.com/ under armour outlet
    http://www.pandorauk.us.com/ pandora uk
    http://www.mbts.us.com/ mbt mens shoes
    http://www.yeezyboost350shoes.us.com/ yeezy boost 350
    http://www.asics--shoes.us.com/ asics womens shoes
    http://www.jordan11.co.uk/ jordan retro
    http://www.monclerjacket.org.uk/ moncler jacket
    http://www.jordan11spacejams.us.com/ jordan 11
    http://www.nikeairmax270.org.uk/ nike air max 95
    http://www.pumarihannafenty.us.com/ rihanna fenty puma
    http://www.supreme--clothing.us.com/ supreme jacket
    http://www.moncler--jacket.us.com/ moncler jacket
    http://www.pandora--rings.us.com/ Pandora
    http://www.nikeairmax-90.us.com/ nike air max
    http://www.air-max-270.us.com/ nike air max 270 women
    http://www.mcms.us.com/ mcm wallet
    http://www.moncler-coat.us.com/ moncler jacket
    http://www.kd10-shoes.us.com/ nike kd
    http://www.prada--handbags.us.com/ prada handbags
    http://www.coach--bags.us.com/ coach
    http://www.skecherss.us.com/ skechers uk
    http://www.ferragamoshoess.us.com/ salvatore ferragamo
    http://www.pandoras-jewelrys.us.com/ pandora jewelry
    http://www.chromeheartsjewelrys.us.com/ chrome hearts jewelry
    http://www.uggs--boots.us.com/ uggs for men
    http://www.nike-airmax-2018.us.com/ air max 2018
    http://www.adidas--shoes.co.uk/ adidas trainers
    http://www.oakley--sunglassess.us.com/ oakley glasses
    http://www.hermesbirkin-handbags.us.com/ Hermes Birkin Bags
    http://www.polo-ralphlauren-outlet.us.com/ ralph lauren
    http://www.airmax95.co.uk/ nike air max 95 mens
    http://www.adidasnmds.co.uk/ adidas nmd r1
    http://www.air-max-97.us.com/ air max 97
    http://www.nikeairvapormaxflyknit.us.com/ nike air force 1
    http://www.ultra--boost.us.com/ adidas originals ultra boost
    http://www.skechers--shoes.us.com/ skechers outlet
    http://www.oakley--glasses.us.com/ oakley eyeglasses
    http://www.northfacejacketoutlets.us.com/ north face outlet
    http://www.coachbags-outlet.us.com/ coach handbags
    http://www.uggsformen.us.com/ uggs for women
    http://www.nikekdshoes.us.com/ kd shoes
    http://www.prada--bags.us.com/ prada bags
    http://www.airmax-2018.us.com/ nike air max
    http://www.balenciagas-sneakers.us.com/ balenciaga
    http://www.yeezyboost350v2.co.uk/ yeezy boost 350 v2
    http://www.celines.us.com/ celine,celine bag
    http://www.nikeairmax97.co.uk/ air max 97
    http://www.adidas-ultraboost.us.com/ yeezy boost
    http://www.airmax90shoes.us.com/ nike air max 95
    http://www.ugg--slippers.us.com/ uggs for men
    http://www.jordan--11.us.com/ jordan 11
    http://www.nike-airmax270.us.com/ nike air max 270
    http://www.monclers.uk/ moncler coat
    http://www.pandora-jewelrybracelet.us.com/ pandora jewelry
    http://www.rayban-glasses.us.com/ ray ban glasses
    http://www.katespadebags.us.com/ kate spade wallet
    http://www.jordanretro11-shoes.us.com/ jordan 11
    http://www.airmax270.co.uk/ nike vapormax
    http://www.asicss.us.com/ asics
    http://www.ray--ban.us.com/ ray ban prescription sunglasses
    http://www.ed-hardys.us.com/ ed hardy shirt
    http://www.longchampbag.us.com/ longchamp backpack
    http://www.salomonshoes.co.uk/ salomon shoes
    http://www.fitflops-sale.us.com/ fitflop shoes
    Reply 8/2/2018 12:25 PM

Leave a Reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail