Alternatives to Insurance
Over time, many organizations grow and evolve. As such, their risks and insurance needs change. As your organization continues to grow, you can be presented with options for assuming greater risk by self-insuring.
Some of the benefits of self-insuring are as follows:
- Lower costs though reduced transactional costs
- Access to investment income
- Stability of premiums
- Greater control over claims management and claims process
- Exposure can be limited by the use of aggregates
The benefits achieved by utilizing these alternative insurance solutions can be substantial. However, there can be many obstacles and potential pitfalls. When administering a self-insured program, effective loss controls and claims management become paramount and broker involvement is crucial to the program’s ultimate success.
Prevail has the insight, experience, resources and expertise to develop a program that is well-suited for your particular needs and desired level of risk. Prevail can help your with the following programs.
- Large Deductible and Self-Insured Retention Programs
- Retroactive Programs
- Captive Insurance Company
- Risk Funding Alternatives
- Profit-Sharing Programs