GUARANTEED COST POLICY
Guaranteed cost policies offer the security of a flat annual premium with first-dollar coverage.
SMALL DEDUCTIBLE POLICY
These policies provide the employer with a reduced premium in exchange for retaining a small portion of risk in the form of a deductible amount for each claim.
LARGE DEDUCTIBLE POLICY
Larger employers with significant capitalization may qualify for a large deductible policy. These policies offer many of the benefits of self-insurance as the insurer assumes a sizable amount of the cost of each claim. The employer also benefits from Diamond's claims and loss prevention services and enjoys cash-flow advantages compared with first-dollar insurance programs.
RETROSPECTIVELY RATED POLICY
Retro's are also designed with larger employers in mind. The final premium is based on the employer's own workers' compensation losses during the policy period.
Retention policies, also known as dividends, provide a return in premium several months after the policy expires if the losses are less than estimated.
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