Check out the newest benefit of FAIFA membership. Workers Compensation Insurance with a dividend program regardless of the size of your premium exclusively for FAIFA members.

The State of Florida mandates that all businesses with more than 3 employees provide an insurance policy to pay for medical treatment and salary benefits of injured workers. Unlike other types of coverage where you get to choose the ultimate cost via limits, covered events and deductibles, Workers’ Compensation Insurance benefits and rates are set by the State Legislature and the Division of Workers’ Compensation Department of Financial Services. Therefore, you will pay exactly the same base price for this coverage no matter what carrier you choose.

However, with your membership in the Florida Association of Insurance and Financial Advisors (FAIFA), Comp Options is able to offer your business the buying power usually reserved for larger organizations. By grouping FAIFA members into one single group, each business is eligible to participate in a dividend program based on the group’s overall performance and combined loss ratios.

Since 1998, Comp Options has maintained an excellent reputation. We are a wholly owned subsidiary of BlueCross BlueShield of Florida, so you can be confident that we will be there for you when you need us.

Program Specifics:

• · This program is underwritten by Comp Options, Inc., an A.M. Best rated “A- (V) Stable“ insurance carrier, so you know that necessary funds are available.
• · This program is NON-assessable. You will never be asked to make up shortfalls in premiums to cover losses.
• · This program contains a NO Recapture Clause. Once dividends are paid to you they will never be recalled.
• · Dividends are paid based on 6 and 18 month valuations of group losses. You receive 50% of the earned dividend at each valuation period. All audits must be completed and paid in order to receive dividends.
• · Dividends are earned based on total losses, earned premiums and minimum achievement goals established for the group.

By law, dividends are not guaranteed and are declared at the discretion of the Comp Options Board of Directors

If you are truly committed to reducing and controlling the financial impact of your Workers’ Compensation insurance premium for your business, we’d like to help.

Contact Southeastern Insurers, Inc. at 1-800-225-2401ext. 205 for program details or click the link below to download and print out a quote information form to receive a quote.