Own your cost!
Health Partners for Workers Compensation, HONY, established in 2011, primarily focuses on the healthcare industry as a member-owned group captive insurance program. Our group consists of like-minded individuals who collaborate to insure workers’ compensation for member companies. As a member, you’ll benefit from:
- Stable Premiums: Your premiums remain consistent over time.
- Reduced Total Cost of Risk: By participating in the group, you can lower your overall risk-related expenses.
- Effective Claims and Risk Management: We prioritize efficient handling of claims and risk mitigation.
- Profit Sharing: Members share in the program’s profits.
- Tax Considerations: Explore tax advantages related to your participation.
- Investment Income: Earn returns on investments.
- Control Over Risk Mitigation: You have a say in how risks are managed.
Members of HONY demonstrate financial strength, maintain safety-focused teams, and boast above-average loss histories.
Form a Captive Because?
- The group is dedicated to mitigating loss costs
- All partners are dedicated to effective risk management resources
- The success of the program builds surplus, which reduces expenses over time
- Pricing for coverage is based on individual losses
Results of Forming a Captive
- Stable premium
- Reduced total cost of risk
- Control over claims and risk management process
- Profit sharing
- Tax considerations
- Earn Investment Income
Selective Membership Requirements
- Primarily engaged in Healthcare Industry
- Financial requirements as established by managers and Travelers
- Strict adherence to risk management and safety policies
- Minimum three (3) year commitment
- Furnish LOC-Possibility of current captive members assisting
Risk Management Initiatives
- Focus on core prevention programming individualized per Safety Service Plans
- Slips Trips and Falls- Looking to create additional new and improved material
- Safe Resident Handling- ongoing program compliance and process improvement
- Material Handling- often time goes back to overall health and well being based on injury descriptions. Also we have been able to do some additional task specific ergonomic reviews with staff
- Facilitating internal promotion of Leading Safety Indicators
- Incentive programs , updating programs
- Regular Facility updates on Lagging Safety Indicators , trending.
Does this sound like your organization? Learn more today: Fill out contact information form and submit inquiry.