Program Highlights:
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Security – Property/Casualty known maximum cost program- "Non-Assessable"
Stability – “A” rated carriers
PSIC Program Benefits:
“Protected Self-Insurance” is the risk management alternative that PSIC has
chosen to manage its risks and keep its costs at the minimum. Price is not the only
consideration when making this decision. In addition, the following are advantages,
which should be noted over a conventional insurance program:
• Long-term stability in premiums and insurance availability.
• Broader coverage and increased limits.
• Potential return of loss fund dollars in the form of dividends subject to favorable
loss experience.
• Cash flow benefits.
• Interest earnings from loss fund monies are retained by the members and
further reduce program costs.
• Direct input and a strong voice by each member on coverage, administration,
claims management, and loss prevention decisions.
• Detailed and comprehensive monthly loss information.
• More direct control of claims management and claims costs.
• Professional loss prevention programs tailored more to specific needs and
desires.
• Direct control of growth and determination of new members.
Stability – “A” rated carriers
PSIC Program Benefits:
“Protected Self-Insurance” is the risk management alternative that PSIC has
chosen to manage its risks and keep its costs at the minimum. Price is not the only
consideration when making this decision. In addition, the following are advantages,
which should be noted over a conventional insurance program:
• Long-term stability in premiums and insurance availability.
• Broader coverage and increased limits.
• Potential return of loss fund dollars in the form of dividends subject to favorable
loss experience.
• Cash flow benefits.
• Interest earnings from loss fund monies are retained by the members and
further reduce program costs.
• Direct input and a strong voice by each member on coverage, administration,
claims management, and loss prevention decisions.
• Detailed and comprehensive monthly loss information.
• More direct control of claims management and claims costs.
• Professional loss prevention programs tailored more to specific needs and
desires.
• Direct control of growth and determination of new members.
