California’s Self Insured Solutions’ Five Construction and Agricultural Self-Insured Groups Experience Record Growth
By Press Release - April 10, 2008Self Insured Solutions Reports Group-Specific Success to Members at Annual Meetings
ONTARIO, Calif.--(BUSINESS WIRE)--California-based Self Insured Solutions – which manages five remarkably successful self-insured workers comp groups in the highly-competitive California workers comp marketplace – has achieved record growth in the past twelve months, according to Tom Wheeler, Vice President of Marketing. Self-insured workers compensation groups are owned by the companies the groups serve, and those five groups that are managed by Self Insured Solutions – which specializes in cost-effectively providing workers comp insurance for high-risk industries, such as construction and agriculture – hold annual member meetings to brief these owner-members on the success of their workers comp provider. The first of these meetings, for the California Contractors Network Self Insured Group, was held April 7th at the Venetian Hotel and Casino in Las Vegas, with others scheduled for later this month at the Bellagio.
“Each of our managed groups achieved significant growth during the most recent fiscal year,” Wheeler explained. “Representing the industry’s growing confidence in self-insured alternatives to conventional workers comp coverage, we have grown to 325 members during the fiscal year just ended, up from 228 the year before – a growth of 97 member companies, 70 percent member companies more than we had a year ago. Even more important to our members – and reflecting the primary reason for our dramatic growth – we have experienced a loss ratio of just 19.3 percent, well below the national average, which ranges from 60 to 75 percent depending on the risk-level of the industry.
“We have achieved this dramatically low loss ratio – which saves all of our self-insured members a remarkable amount on their workers comp coverage costs,” Wheeler said, “because of our strong and steady focus on promoting on-the-job safety. This is coupled with our commitment to pay claims quickly and get workers back on the job, and our equal commitment to prosecute fraudulent claims. Together, these three elements ensure that our members pay low rates for high-quality workers comp coverage – and this successful formula is reflected in our substantial overall growth in the past year.”
The Self Insured Solutions safety trainers made 2,824 training contacts with members, including 897 client-company consultations designed to help employers improve worksite safety and 1,672 job-site visits by trainers – who conduct bilingual on-the-job training for workers.
“Together,” Wheeler explained, “these efforts resulted in reduced claims and lower contributions from the members, even though the SIS groups are providing nearly one-third more workers comp coverage than they did the year before.”
Members of self-insured workers comp groups managed by the California-based Self Insured Solutions will receive the specifics of their group’s initiatives over the past year, their dramatic and group-specific growth, as well as insights into plans to further reduce loss ratios – and costs – by emphasizing new safety initiatives designed to further lower the number and severity of on-the-job accidents.
Self Insured Solutions announced the details of this growth to the California Contractors Network Self Insured Group, the first of the five groups’ members, at their annual meeting on April 7, 2007 at the Venetian Hotel and Casino in Las Vegas.
The California Farm Management Self Insured Group will meet April 14; the California Agricultural Network Self Insured Group will meet April 21; and the California Livestock Management Self Insured Group will meet April 28.
About Self Insured Solutions
With offices in Ontario, Self Insured Solutions (http://www.calsig.com) is one of California’s most successful developers and administrators of private self-insured workers’ compensation groups (SIGs).
Self Insured Solutions offers hands-on safety services to members of California Agricultural Network (www.cansig.com), California Agricultural Products (www.capsig.com), California Farm Management (www.cfmsig.com) and California Livestock Producers (www.clpsig.com), as well as California Contractors Network, a self-insured group serving the building and construction industry (www.ccnsig.com).
Each of these self insured workers’ comp groups is managed by Self Insured Solutions, and – with the exception of CCNSIG, which serves the construction industry – each exclusively serves one segment of California’s multi-billion dollar agricultural industry.
For more information on about California-based Self Insured Solutions – or to interview Tom Wheeler, please contact Ned Barnett – 702-696-1200 or ned@barnettmarcom.com.
Contacts
Self Insured Solutions
Ned Barnett, 702-696-1200
ned@barnettmarcom.com | 
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