"Solution One"

What is it?
Solution One is a seamlessly integrated package providing workers compensation insurance, employment practices liability insurance, a payroll processing system, and a risk reduction system all backed by comprehensive insurance company warranties.

How does it work?
As a new Solution One customer, your company will be placed into a group of similar operations with similar loss experience and premiums. Groups are typically compiled of 30 to 50 companies and are spread throughout New Jersey.

The Solution One product combines a traditional guaranteed cost workers compensation policy with a profit sharing plan. The policy premium is calculated using NJWC Bureau assigned class codes and estimated premiums; however, a profit sharing plan is put into place using combined loss ratio of the group you have been assigned. In addition to the profit sharing plan, the guaranteed cost policy contains front scheduled credits that offer immediate savings.

What are the benefits?

• Bare bones pricing for groups with minimal loss experience.
• The ability to "spread losses" within your assigned pool.
• The possibility of Workers Compensation premium savings up to 60%.
• Based on the pool's claim experience, this program can provide immediate cash flow benefit and financial reward unlike other plans that require waiting for retrospective or dividend calculations that can run for years beyond policy expiration.
• Low down payments and easy premium financing. Seven and a half percent down payments are required for all policies and installments are withdrawn seamlessly with each payroll payment cycle.
• The elimination of ALL year end payroll audits.
• And many more…

We look forward to the opportunity to present a Solution One proposal that fits your company's need!