December 5th, 2007 – Newtown, PA. Alternative risk broker and consultant Self-Funded Alternatives announces a new carrier for its cash flow only product. A cash flow endorsement provides a sub-retention under the specific SIR of a self-insured workers’ compensation program to offer some additional protection to the employer in the event of a catastrophic loss.
Under most circumstances, a large workers’ compensation loss can be paid out over a number of years allowing the self-insurer to budget payments for a given claim. Some catastrophic claims, however, may require that the self-insured employer fund for the SIR in a matter of weeks or months.
Although some carriers offer a cash flow or annual retention endorsement as part of their policy package, its availability is very often restricted.
SFA offers a unique stand alone cash flow product that can be written for a variety of business classes. This policy can either be written as en endorsement and in conjunction with an underlying policy or as a stand alone policy.
Jeff Bogacki, Managing Director states: “The cash flow endorsement is a unique product that enables self-insured employers to not only protect their bottom line but also protect their budget. Although most employers are good candidates for this coverage, it greatly benefits municipal entities, school boards, employers that carry a high SIR or employers with a significant employee concentration. SFA is proud to be able to bring innovative and meaningful products to its clients.”
“The national availability of this product is a great competitive advantage for SFA. This once again shows the creativity and problem solving capabilities of our team of experts and we are proud to be able to bring such unique solutions to our agent and broker community”, adds Dee Dee Bloom, Sr. Vice-President and Chief Marketing Officer.
Self-Funded Alternatives is an insurance intermediary specializing in self-insured workers’ compensation programs nationwide. The SFA management team has over 50 years of combined specialized experience in the excess workers’ compensation arena.
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