Private Carrier

This workers compensation option is usually only for staffing companies with good workers’ comp loss history, have been in business for at least 3 years, and generate premiums of at least $25,000 a year. Some leading insurance companies and markets that offer direct policies to staffing companies include AIG, ULLICO, Gauranty, Travelers, Liberty Mutual, Bershire Hathaway and Pinnacol. As a result of selecting better staffing companies, their rates are usually lower than a PEO or EOR, and much less expensive than the state funds.

Direct carriers will usually require:

  • 30% down payment on the annual premium and may finance the remaining 70% over 6- 9 months.
  • An annual on-site audit that will review class codes for accuracy—rate discrepancies and payroll levels. An audit can be intrusive to your operations, and audit premiums can be unexpectedly substantial.
  • At least 3 years of good loss history.

If you select a direct policy as your work comp solution, Work Comp Staffing Solutions can refer you to a payroll service that specializes in processing staffing clients payrolls and administrating staffing health benefits.

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