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Guaranteed Cost Insurance Plans

With guaranteed cost workers compensation insurance plans, the policyholder is locked in to a fixed cost for the duration of the policy period.

Guaranteed Cost Plans are available for those employers who seek a fixed cost insurance rate for their Workers’ Compensation benefits. Under a guaranteed cost insurance plan, the policyholder receives an advance premium discount, which guarantees that, regardless of the insured’s experience in a policy year, the premium will remain at a fixed cost for the policy period. There are generally no dividends available under a fixed cost insurance plan. GCG Risk Management, Inc. acts as the policyholder representative for accounts in the General Group of the New York State Insurance Fund. GCG provides Workers Compensation insurance, claims and safety services for its clients, and usually charges a fixed cost annual fee, billed monthly to the employer.

GCG will provide a no obligation quote for these guaranteed cost insurance plans under “Request a Proposal”.

Guaranteed Cost Insurance: Value-Added Services

Audit & Classification Review

  • Experience Rating Review
  • Payroll Audit & Code Classification
  • Negotiate Reclassification of Payroll
  • Claims Audit and Reserve Review
  • Workers’ Comp Law & Regulation

Integration with FMLA/ADA Downloadable (PDF & doc)

  • Cost Change Updates for Budgetary Planning
  • “Reviewed Cost” Newsletter
  • Claims Services for Insurance Plans

FROI – First Report of Injury

  • Claims Processing
  • Claims Monitoring
  • Review Loss Reserves
  • Interface with Carrier Claims Dept. & Rating Board