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Once the groups application
is approved by the regulator, BRS can serve
as the administrator, continuing to provide
guidance
as the SIG begins operation. BRS
is the administrator for many self-insurance
programs, including the first and largest
self-insured
group and the Self Insured Security Fund, the
guaranty fund for all self-insured programs.
Services delivered for BRS clients include:
Financial
management – Including
preparing budgets, providing accounting
and actuarial
analyses,
calculating equity and dividends, and overseeing
investments
Administration
and management – Including
monitoring contractor performance, overseeing
claims
and litigation actions, and assuring statutory
compliance
Marketing
support – Including
communicating to existing and potential
members via
onsite
meetings, convention demonstrations, and
group web site maintenance
Risk
control and safety – Including
helping reduce the potential for adverse
loss experience
by managing the SIG's loss control program
Each year, we verify the soundness
of the self-insurance group by encouraging independent
claims and financial audits of the group and
its individual members, and by performing an
actuarial study to review the program's overall
funding and future rates. |
