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Products & Services

Each program is different in their specific needs and wants. At CIS we understand and therefore look at the needs specific to your group to offer the best option to accomplish the group’s overall goal. Below are some of the products and services CIS offers.

Large Deductible Workers’ Compensation

This workers’ compensation product gives the employer the opportunity to take on risk in the form of a large deductible, usually $150,000 or more without state approval. A claims payment fund must be established and maintained by the employer from which the TPA draws funds to pay claims. Collateral is required in the event the insured cannot meet the claim payments. This is often the first step taken by an employer in order to experience taking on risk prior to application to the state department of insurance for approval to become self-insured.

Individual Self-Insured Program

When an employer is willing to take on risk in the form of a self-insured retention (SIR) of $300,000 or more, they are individually self-insured. The risk should generate a minimum of $300,000 in workers’ compensation premium. Financials must be secure and pre-approval from the state department of insurance is required. Claims are handled by a Third Party Administrator (TPA) and some states require security in the form of cash or a surety bond as collateral. Group Self-Insured Program

A Workers’ compensation insurance program where a homogeneous pool of like businesses and exposures form their own risk retention group is a group self-insurance program. Excess insurance is purchased on the same basis as an individual self-insured. Financial and actuarial analysis is required, claims are handled by a TPA and collateral may be required.

Loss Portfolio Transfers

The insurance carrier assumes all total outstanding liabilities of a self-insured for a specific time frame. This is a good tool for the insured to convert all liabilities into a fixed payment; potentially release of collateral with the state; and improve their balance sheet.

Surety Bonds

Surety Bonds are a means of providing collateral in the event the insured is financially unable to pay workers’ compensation claims.

Retro and Loss Sensitive Funding Programs

A workers’ compensation program where the initial premium is an estimate based on loss experience for a policy period. The actual premium calculation is performed at the end of the policy period. The result can be an additional premium due or a refund based on the insured’s loss experience compared to the initial estimate.
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