Workers Compensation Insurance for Florida Law Firms

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Does your Worker's Comp Insurance company pay you a dividend? Our Program does!

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[themetasticicon icon=’icon-ok-circle’ size=’35px’ class=”]   Insurance for injured workers

[themetasticicon icon=’icon-ok-circle’ size=’35px’ class=”]   Law Firm Group Dividend Program

[themetasticicon icon=’icon-ok-circle’ size=’35px’ class=”]   Underwritten by Comp Options Insurance Company

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ABOUT THE PROGRAM:

The State of Florida mandates that all business with more than three 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 Department of Financial Services mandates coverage. Therefore, you will pay exactly the same base price for this coverage no matter which carrier you choose.

However, being a member of The Florida Bar, you have an opportunity to purchase your workers’ compensation insurance from Comp Options Insurance Company.  Comp Options offers your practice the buying power usually reserved for larger organizations. By grouping The Florida Bar members into one single group, each firm is eligible to participate in a dividend program based on the group’s overall performance and combed loss ratios.

THE FLORIDA BAR DIVIDEND PROGRAM:

Loss Ratio AchievedDividend
0%24.8%
10%23.8%
20%17.0%
30%10.2%
40%3.4%
45%0.0%

**By law, dividends are not guaranteed and are declared at the discretion of the Board of Directors.

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

Program Specifies:

  • This program is underwritten by Comp Options Insurance Company, an A.M. Best rated “A 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 18th-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.