As with all insurance plans, money taken in as premiums by members of the group is paid out in claims. But there is one big benefit that CAMComp has over all the others: if the claims paid are less than the premiums received, we return excess premiums and investment income to our members.
The total program is designed to give participants a greatly improved loss control program and help minimize the cost of workers’ compensation claims. It also provides a mechanism for funding the workers’ compensation obligations of participating employers through self-insurance, mutual indemnification and excess insurance against catastrophic loss.
Based in Michigan, CAMComp has decades of experience with the local construction industry. You can expect quality in service, quality in claims management and quality in the handling of claims when they arise. Our service provider is top-quality also, with an AM Best rating of A+.
Safety Pays! Why? The safer your crew is every day, there is likely to be a lower incidence of claims – and fewer dollars go out. So you get the possibility of lower premiums and/or rebates on your premiums.