Products

BusinessFirst offers the following workers’ compensation products, which provides competitive plans to businesses while maintaining fiscally sound underwriting principles.

  • Guaranteed cost—Available to all clients, however guaranteed cost policies are usually appropriate for small businesses with good loss experience.
  • Sliding scale dividend plan—These loss-sensitive plans can allow qualifying employers to receive money back in the form of dividends.* They are available for small- and medium-sized businesses with good loss experience.
  • Retrospective rating plans—Known as retros, these plans differ from conventional guaranteed cost programs by offering additional savings for businesses that place an emphasis on workplace safety.
    • Incurred loss retro—Most beneficial for medium- and large-sized businesses who focus on long-term savings and are dedicated to staying with the plan over time.
    • Paid loss retro—More appropriate for larger businesses with good loss experience, superior credit and a strong interest in claims management.
  • Consent to rate—This plan is for businesses that may be on the borderline for coverage eligibility. The rates are tailored to fit the loss experience of the insured in conjunction with risk management consultations to improve loss experience. 

*Dividends are not guaranteed and are declared at the discretion of the board of directors for the carrier.