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Guaranteed Cost Insurance Programs

With guaranteed cost Workers’ Compensation insurance programs, the policyholder is locked in to a fixed cost for the duration of the policy period.

Guaranteed Cost programs are available for those employers who seek a fixed cost for their Workers’ Compensation insurance. 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 program. 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. GCG usually charges a fixed cost annual fee, billed monthly to the employer.

GCG will provide a quote for these programs 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 Programs

FROI – First Report of Injury

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