Why Choose Captive Workers Comp for Your Business

Workers Comp

When you run a business, you have to consider where you’re going to receive your workers compensation coverage from. If you’re having difficulty, you may want to consider the captive workers compensation insurance.

What Is Captive Workers Compensation Insurance?

With a captive insurance solution, you and other businesses can pool your liabilities. When an employee has a workers’ compensation claim, these claims can drag on for a long period of time. Since every case is different, it can sometimes be difficult to predict what the cost of a specific claim will be. One of the reasons that companies may lean towards captive workers compensation coverage is that it can provide the business with significant tax advantages. Before claims, the carrier deducts premiums from the operating income.

What Are the Benefits of Captive Workers’ Compensation Insurance?

When you leverage captives, you can reap several different benefits. The first and most important benefit is that your loss risks are transferred to the insurance company. In addition, you can control the claims processing procedures. If your current process is difficult or complicated, you can eliminate some of the difficulties from it.

All companies need some form of workers’ compensation coverage. You never know when an accident may happen. In addition to being a necessary coverage, captive workers compensation coverage is a flexible and lower priced option.

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