Guaranteed Cost Program

A Guaranteed Cost Program offers complete risk transfer at a fixed rate. Premium is paid during the policy period and is subject to adjustment at audit. The only variable affecting premium between policy inception and audit is payroll.

Loss-Sensitive Dividend Plans

A Loss-Sensitive Dividend Plan offers a potential return of premium, calculated after policy expiration and audit, based on the actual loss experience of the insured business. The amount of the potential dividend varies with the actual loss ratio and premium of the insured business. EAIG offers several dividend plans; customized dividend plans may be available on a case-by-case basis. Dividends by law are not guaranteed and are subject to the approval of the Board of Directors.

Large Deductible Plans

Large Deductible Plans are similar to self-insurance, but without the corresponding administrative hassles. EAIG offers a Large Deductible Plan for insured businesses who have a Guaranteed Cost Workers’ Compensation premium in excess of $300,000, are in excellent financial condition, better-than-average loss experience, solid risk management program, and the financial ability to absorb risk level of $250,000 per accident (higher deductibles also available).

Retrospective Rating Plans

An Insured Loss Retrospective Rating Plan makes an adjustment to policy premium, after policy expiration, based on the losses generated during the policy period. The premium adjustment can be reduced or increased, based on the losses generated during the policy period. EAIG offers Retrospective Rating Plans with no loss limitation but maximum annual premium for insured businesses with a Guaranteed Cost Workers’ Compensation premium in excess of $100,000, excellent financial condition, better-than-average loss experience, a formal safety program, and the financial ability to absorb a portion of risk, predictable loss experience and loss patterns, and an interest in becoming a long-term partner with EAIG.