Workers Comp

We offer workers compensation insurance to our customers – generally as part of a “package deal” for the insurance carrier that is the successful bidder on the bank’s other major insurance policies. This procedure generally results in very attractive premium for qualified banks. We can also provide this product on a stand-alone basis.

For California domiciled banks or for out-of-state banks with California-based employees, Independent Bankers Insurance Services is the endorsed access broker for Western Independent Bankers Self Insured Group (WIBSIG) workers compensation program. The WIBSIG is the only self-insurance plan in California that is approved by all state and federal banking regulators.

In addition to very attractive rates, the WIBSIG offers long-term stability in a self-governed program that features proactive loss control, aggressive claims management, and program administration by Compensation Risk Managers (CRM), one of the top self insured plan administrators in the United States.

Your bank must be a member of Western Independent Bankers and must have been in business for 30 months to qualify for entry into the program. Additionally your current experience modifier cannot be higher than 1.3 and entry is subject to a minimum annual premium of $15,000.

For additional information on the WIBSIG, including applications and documentation requirements...

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