NCAComp has been working with our clients since 1991 to provide our guidance as workers’ compensation self-insurance experts.
We would love the opportunity to assist you in the administration of your program in the following ways:
Self-Insurance Feasibility Study
Making the switch to self-insurance is a big decision that requires an in-depth analysis of the financial implications. We will provide a detailed financial analysis of the costs and benefits of self-insuring your workers’ compensation liability and help you to understand the nuances of this option. The feasibility study is a free service for any companies considering self-insurance.
Our experts are able to provide you with an annual budget (or assist you in creating your own) so that you may plan ahead for your plan expenses.
Using our decades of experience servicing many different types of programs, our staff is able to assist you in any aspect of your program that you may need. We can then help with membership, budgets and premiums, cost containment efforts, safety and loss control, and best practices for hiring and returning to work healthy employees.
For plans with multiple participants or members, you may want to calculate a “premium” to raise the funding for the program. Our experts are able to offer different options for the calculation of a premium that will meet the needs of your group, whether using experience, employee size, risk type, or any other factors alone or in combination.
Experience Mod Calculation
NCAComp’s proprietary claims system has the capability to calculate an experience modification factor using the same formulas as the insurance industry. Experience mods can assist a plan with multiple members to determine an equitable way to charge an annual contribution to the plan.
Self-insurance has provided many of our clients the freedom to control their workers’ compensation programs. However, it is important that they understand their responsibilities under self-insurance. We work with clients to assist them in making the decision to self-insure, in the application and approval of self-insurance, and then with the responsible administration of their programs. We would be happy to assist you with any aspect of your self-insurance program.