The staffing industry is unique, requiring tailored risk management strategies to effectivelyhandle workers’ compensation and insurance challenges. Traditional insurance options may work for some, but for others, a captive insurance program can provide stability, cost control, and other long-term benefits. Here are four signs your staffing firm might be ready to transition to a member-owned captive program like PEC.
1. You’re Tired of Volatile Premium Fluctuations
The traditional insurance market can be unpredictable, with rates fluctuating due to economic conditions, industry risks, or market trends. For staffing firms, these swings can make budgeting a nightmare. If your firm is seeking stable rates and protection from cyclical changes, a captive program offers an alternative. PEC provides consistent, competitive pricing, shielding your business from the uncertainty of traditional markets.
2. You Want More Control Over Claims Handling
Claims handling can directly impact your bottom line and employee satisfaction. Staffing firms often face unique challenges in managing workers’ compensation claims across diverse industries. With PEC, you gain access to proactive claims handling and medical cost management, ensuring efficient resolutions. Monthly claims summary reports, including injury type and cause of loss, give you valuable insights to prevent future incidents.
3. You’re Investing in Risk Management and Safety
Preventing workplace injuries is more effective—and cost-efficient—than managing claims. If your firm is actively prioritizing loss control and risk management, joining a captive can amplify these efforts. PEC members benefit from the highest quality risk management services, plus exclusive access to Business and Legal Resources’ Safety Training and Compliance tools. These resources empower you to create safer work environments, reducing claims and protecting your workforce.
4. You’re Ready to Reap the Rewards of Ownership
Captive insurance programs are designed for firms that want to take ownership of their insurance solutions. PEC’s unique dividend structure allows members to share in the program’s financial success. As a member-owner, you’ll receive annual financial statements, quarterly investment performance summaries, and have the potential to earn shareholder dividends based on program performance. These benefits are exclusive to PEC and represent a significant opportunity for firms ready to make the leap.
Why Choose PEC?
PEC is more than an insurance solution; it’s a partnership. As an exclusive, member-owned program, PEC empowers staffing firms with tools to manage risk, stabilize costs, and maintain control over their insurance strategies. Here’s why staffing firms choose PEC:
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Stable rates and competitive pricing
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Proactive claims handling and medical cost management
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Comprehensive risk management services
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Access to safety training and compliance resources
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Transparent reporting with financial statements and claims summaries
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Dividend opportunities based on program performance
Is Your Staffing Firm Ready?
If these signs resonate with your firm, it may be time to explore the benefits of joining PEC. As a member-owned captive program, we provide staffing firms with a reliable, cost-effective alternative to traditional insurance. Contact us today to learn more and take the first step toward greater financial stability and control.