Sigma-One Advantage: Stability
A Board Member years ago asked why he couldn't expect to pay the same workers' compensation premium every year if, in fact, his payroll stayed the same and his Experience MOD stayed the same. It would be easier to budget for and would not come as a surprise, good or bad, every year at renewal time. That discussion became the basis for the rationale upon which the Sigma-One Trust is based. The simple goal of the Trust is to create and maintain "Stable" workers' compensation business environment.
This is possible because of several things, all designed to create a stable environment. Our Membership is growing but stable. We do not lose Members of the Trust back to the commercial insurance market. Since 1995, only a few Members have left this Trust and returned to the commercial market. Several others have been acquired or moved out of state, but, by and large, we retain the majority of our Members, that adds to stability. As new Members join, we have the resources to reduce and stabilize their Experience MODs and that only adds to the stability of the group.
We have established long-term relationships with everyone from Banks to Excess Insurance Markets, Attorneys, Accountants, Payroll Auditors and Actuaries that only add to the stability of the operation of the Trust.
Lastly, the staff at Comp-Sigma, Ltd. that provide claims, case management, and loss control services is very stable. Many of the key Members of the staff have been involved in the operation of this Trust since it's inception. Although we have added staff as we have grown, we foster long-term employment of our staff and have several staff Members that have been working with Trust Members since 1999.
