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Transportation Self-Insured Group Reports Strong Performance
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Nevada Workers’ Comp Group May Return Surplus to Members
The Preferred Transportation Self-Insured Group (PTSIG), a Nevada Workers’ Compensation program, today reported a decline in work injury claims costs of 71% since 2005. The steep drop in costs will allow the group to consider a return of surplus to employer members in 2010. Responding to the sustained strong performance of the PTISG, the Board of Trustees announced plans to open membership to qualified businesses in the warehousing and automotive service industries to help more Nevada employers lower costs and stay competitive.
Board Chair George Balaban commented:
“Our safety and claims management programs have been delivering better results every year. We have been especially pleased with our highly successful subrogation efforts. We have recovered close to $1,000,000 for the group and our employer members with more on the way. When employers are hit by injuries and costs caused by third parties, somebody should go to bat for them. We are aggressive and successful on subrogation because PTSIG exists to help its employer members and their employees. Nevada has business success stories and this is one of them.”
PTSIG is managed by CHSI, a Nevada based company that specializes in the design and development of programs that can be cost control alternatives to traditional insurance for small and mid-sized employers. Work injury claims for PTSIG are administered by Cannon Cochrane (CCMSI), an independent claims management company.
About PTSIG:
The Preferred Transportation Self-Insured Group was launched in 1999. The program is regulated and audited by the Nevada Division of Insurance, Self Insurance Section. Membership is open to qualified businesses that are committed to the prevention and management of work injuries. All new members are approved by the Board of Trustees, representing the membership.
www.ptsig.net
