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Chamber of Commerce Workers’ Compensation Association
Program
Innovative Insurance Products
For Your Business
SERVING THE BUSINESS OWNERS OF FLORIDA
Your Chamber
of Commerce fulfills an important role not only in the
business world but also in the community. It exists
to enhance the business environment for the members
as well as an additional commitment to improve the entire
community through leadership in tourism, industry, cultural
and civic growth.
Recognizing
the hard work and entrepreneurial expertise needed to
run a successful business in today’s competitive
marketplace, your Chamber of Commerce has teamed with
TMK Risk Management, Inc. and Comp Options Insurance
Company (a wholly owned subsidiary of Blue Cross and
Blue Shield of Florida) to offer a sophisticated, yet
simple-to-use program of workers’ compensation
insurance to its members. By offering such a program,
your Chamber is able to provide you, its member, the
buying power of large organizations with the safety
of a quality workers’ compensation insurance carrier.
PROVIDING
THE SERVICE
COMP OPTIONS
Insurance Company is a wholly owned subsidiary of Blue
Cross Blue Shield of Florida. To employers in Florida,
this relationship is the core to managing the costs
of worker injuries by providing quality, cost-effective
medical care with a return-to-work focus; reducing frequency
and severity of injuries; reducing litigation; and,
1-800 claims reporting 24 hours a day. With Financial
Stability ® rating of "A", Comp Options can
help you reduce your individual costs and increase your
group’s profit potential.
HOW THE
PROGRAM WORKS
Each member
of the Chamber of Commerce who participates in the workers’
compensation program has its premium calculated on its
individual payroll and loss history. The individual
Chamber member’s premium and losses are pooled
with all other participating Chamber members, in effect
creating one large employer.
Approximately 90 days after
the expiration of the dividend year, the combination
of premium and losses for all participating Chamber
members in the group is audited.
Upon approval
of the Board of Directors, dividends are declared based
on the overall profit of the total participating members.
Dividends are paid as a percentage of the individual
owner’s audited premium.
DIVIDEND
SCHEDULE
Attained Loss Ratio
0%
10%
20%
30%
40%
45%
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Payable Dividend
29.4%
22.9%
16.4%
10.0%
3.4%
0%
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Individually,
your workers’ compensation premium is likely to
be well below the normal dividend qualifying premium.
However, by participating in the Chamber program, you
are not only eligible for dividends, but also have the
potential for higher dividends by being part of a larger
group. This program is perfect for both small and large
employers wishing to maximize dividend potential.
For More
Information, Please Contact
Phone: (954) 389-5897
Fax: (954) 389-6661
www.tmkrisk.com
Comp
Options, A Division Of Blue Cross Blue Shield Of Florida
P. O. Box 44291
Jacksonville, FL 32231-4291
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