Large Employer Program

Bespoke Workers’ Compensation Coverage for Large Employers 

Your client is unique, and with Work First you can deliver a workers’ compensation program to match.  For large employers with premium in excess of $100,000 Work First specifically tailors the program structure, loss prevention services, claims management process, and claims mitigation strategies to exactly meet your client’s needs. 

Bespoke coverage does not have to cost more.  By tailoring the service offering to meet the needs of your client, we are able to reduce injuries and improve claim outcomes.  It’s a simple equation – the program improves, and your client’s costs go down.

Program Structure Options: 

GUARANTEED COST  

Guaranteed cost policies have the advantage of transferring the entire workers’ compensation risk to Work First. These policies provide certainty in the cost of the work comp program and are ideal for more financially conservative companies.  

DEDUCTIBLES  

Work First deductible programs offer the following advantages:

  • Significant cash flow advantage over a guaranteed cost policy  
  • Opportunity for your good claims performance to reduce the total cost of your workers’ compensation program  
  • No pooling the risk of other company injuries as in alternative risk (captive) programs  
  • No requirement to post a loss fund – deductibles are billed monthly 

Small deductibles range from $2,500 up to $10,000. These deductibles have no requirement to post collateral and are a great option for companies moving up from a guaranteed cost policy. Further, some state regulations allow for reporting losses net of the deductible paid which can help to meaningfully reduce your client’s experience modifier.  

Midsize deductibles range from $25,000 to $75,000 and provide a significant premium reduction compared to guaranteed cost, yet don’t have the same collateral demands as a large deductible program.  

Large deductibles include those $100,000 and above, and are perfect for companies who have mastered risk management and value the significant premium savings to be had when taking on a substantial amount of each claim.  

Midsize and large deductibles require collateral to be posted to ensure the payment of deductibles. Work First has flexible collateral options including letters of credit, cash collateral, and a ‘working cash’ collateral program.  

Primary Policyholder Requirements 

Here are our basic underwriting guidelines for the Large Employer Program:

  • Minimum Premium $100,000
  • Minimum of 3 years in business
  • No PEO, Leasing Exposures, USL&H Exposures, Construction, Recycling or Day Labor