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December 11, 2019

Workers Compensation Self Insurance

Today there is a whole new alternative solution called 
Group Workers’ Compensation Self-Insurance
Get Control Over Your Insurance Premiums!

Approved by the State of California, Self-Insurance is an alternative vehicle that provides the medium size companies within the same standard industrial codes (SIC) the same opportunity that large national companies have enjoyed for years.

About Workers Compensation Self Insurance


Business in your own industry with excellent loss experience and solid financials are partnered as a group to provide its members cost effective Workers’ Compensation coverage. A Group Administrator and a third party claims administrator (TPA) are hired to manage both the group and the claims process. Excess Insurance will be purchased to protect the group against any major claims.

Group Self-Insurance is the most effective way to control your short and long term Workers’ Compensation costs:

  • Group programs must be approved, meet and operate under stringent requirements of the State of California as administered by the Department of Industrial Relations (DIR) DIR-SELF INSURANCE WEBSITE
  • Established as a “not-for-profit” mutual benefits corporation, the program is owned and operated by its members and elected Board of Trustees
  • The group is protected from catastrophic losses by financially sound excess and re-insurance carriers There is No Capital Investment required

How Do Self Insured Groups Work?


  • Members contribute to a fund, which is conservatively invested and tracked by policy year. The group pays each policy year expenses (administrative, loss prevention, claims, reinsurance etc.) from the funds collected. The surplus and investment income is returned to those members who were participants in that program year.
  • This program provides the medium size company the traditional opportunity that large self-insured companies have enjoyed for years.
  • Self-Insurance has traditionally out performed the private, captive and high deductible program alternatives by 20 to 40% Members are no longer at the mercy of the private insurance carriers and their cycles.

How Do Self-Insurance Groups Succeed?


The program is operated for the benefit of member businesses within their own industry

  • Members must meet strong safety, financial, experience modification and loss history criteria established by the Board of Trustees.
  • Claims are handled aggressively including fraud and subrogation. The third party claims administrator is contracted directly by the Board of Trustees who has the ability to take action if superior services are not provided. Claim Reserves are accurate and fair - no profit is built into cost.
  • In-depth Risk Management services are provided by qualified safety professionals experienced within your own industry.
  • Detailed Financial and Loss Reports are provided to all members.
  • Future rates are based on the success of the group in holding losses to a minimum

California Truckers Safety Association (CTSA)

California Truckers Safety Association

Food Products Group

Food Products of California Worker's Compensation Program, Inc. (FPCA)
Group Program Benefits —
Food Products of California Worker's Compensation Program
  • Accepted standard industry code (SIC) 20: meat & meat products, confectionery, dairy products and related products
  • Rates can be reduced as much as 30% less than traditional insurance or State Fund rates
  • Future premium savings, as well as savings from reduced administrative costs
  • Improved cash flow through elimination of advanced premium payments
  • Approved and regulated by California Department of Industrial Relationsy
  • Excess and aggregate insurance coverage provided by “A” rated national insurance carrier
  • State certified and approved Safety and Loss Control programs
  • Improved loss experience through more effective loss prevention and loss control
  • Board of Trustee participation through underwriting review and approval process
  • Improved service and control through specialized Workers’ Compensation Industry professionals
  • Industry specific, dedicated and experienced program administrators and claims’ management adjusters
  • Long-term stability, as well as potential for dividend returns from loss and expense-fund surpluses
  • Self-Insured program with 100% group surplus and interest income owned by its members
Initial Submission Requirements —
ood Products of California Worker's Compensation Program, Inc.
  • Accord and program application inclusive of SIC code and experience modification
  • Five years of currently valued loss information
  • Description of losses in excess of $50,000
  • Five years of historical payrolls and premiums
  • Estimated payroll for 2015-2016 by class code
  • Latest year-end financial statement
  • Supplemental information may be required
Class Code Description Class Code Description
0034 Poultry Raising 2109 Fruit-dried fruit packing
2002 Macaroni Mfg 2111 Canneries
2003 Bakeries & Cracker Mfg. 2113 Canneries-fish
2014 Grain or Rice Milling 2116 Fruit Juice Mfg.
2014 Feed Mfg. 2117 Vegetable or Fruit Processing - Frozen
2030 Sugar Mfg. or Refining-beet/cane 2121 Breweries or Malt Houses
2063 Creameries & Dairy Products Mfg. 2142 Wineries
2095 Meat Products Mfg - NOC 2142 Distilling
2102 Fruit or Vegetable Dehydrating 2142 Vinegar Mfg.
2106 Olive Handling 2150 Ice Mfg. Or Ice Dealers
2106 Pickle Mfg. 2163 Bottling- Beverages
2107 Fruit-fresh fruit packing 6504 Confections & Food Sundries Mfg. Or Processing
2108 Fruit-citrus fruit packing 8021 Meat Dealers Wholesale
 
CTSA Member Comments

Call 800-995-9170

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