PBI offers businesses many advantages. One of the most important is that businesses can control the premium they pay. They no longer face unpredictable premium swings, they don’t need to subsidize the losses of unsafe companies and they no longer have the hassle of going out to bid. Companies...

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The Group Captive is one of the best known types of Performance Based Insurance (PBI). Think of group captive as an insurance company owned and operated by its members. Just like a traditional insurance company, a group captive issues policies, collect premiums and pays for claims, but claims are...

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Performance Based Insurance focuses on the long term, a comprehensive safety strategy, controlling premiums swings, paying for small losses and insuring for the unlikely severe loss. Many companies will see annual savings of 25% to 50%, while maintaining dramatically improved control over their cash flow and premiums. Simply said,...

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Modern insurance began in London and exploded globally from Edward Lloyd’s coffee house in 1688. It’s now known as Lloyd’s of London. Ship owners would meet at Lloyd’s and discuss their voyages. They realized the value of their cargo was great enough that it would be catastrophic to lose...

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Many types of insurance fit within the category of Performance Based Insurance (PBI). Some of the names may be familiar to business executives, while others might come as a surprise: Risk Retention Group Baseball Retro Retention Plan Pure Captive Self-Insured Retention Plan Paid Loss Retro Participating Dividend Plan Safety...

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Bob Phelan describes successful workers’ compensation programs in terms of a three sided triangle, with a focus on rehabilitating injured workers and returning them back to work: Safety Injury Management PerformanceBased Insurance™ Last year, Phelan recommended that a regional chain of nursing home facilities depart from a traditional subsidized...

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By: tripointins On: June 29, 2016 In: Performance Based Insurance

Captives, a better known type of Performance Based Insurance, are becoming increasingly popular as an insurance vehicle for many companies, large and small. Approximately 30 US states have passed laws allowing captives to be formed in their jurisdictions. Vermont, which allowed the first on shore captive to be formed,...

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Performance Based Insurance offers a compelling ROI for many companies, and will transform the insurance landscape in the coming decade. Safety conscious companies will typically reduce their insurance premiums 25% to 50%. The best in class performers can reduce premiums more than 50%. Let’s look at an ROI scenario...

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Can you fire an employee from your business while they are out on a Workers’ Comp claim?  Yes…but be careful and cross all your t’s and dot all your i’s before you do! You can terminate a workers’ comp claimant as long as they are not protected by any...

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