THE NEW HAMPSHIRE HOSPITALITY COMPENSATION TRUST
DID YOU KNOW YOU CAN PURCHASE YOUR WORKERS' COMPENSATION INSURANCE...FROM YOURSELF?
A MEMBER (ONLY) BENEFIT OF NHLRA
The New Hampshire Lodging and Restaurant Association offers an outstanding Member benefit specifically created for our industry. In 1994, the New Hampshire Hospitality Compensation Trust, a self-insurance program, was established to meet the needs of our Members. This program, authorized by the laws of the New Hampshire Department of Labor, is a value added privilege for members who provide a safe work environment for their employees. The Trust is an excellent, cost effective alternative to purchasing a commercial policy from an insurance company. Why give the insurance industry the dollars you work so hard to generate...give back to yourself with our dividend program!
Savings
Members pay premiums based on their payroll and risk factors with the same statutory coverage as commercial workers' compensation insurance. Member premiums combined create a fund large enough to balance the risks. Premiums are invested to generate interest income (versus paying premiums to an insurance company), until needed to pay claims. Since claims are paid over various timeframes, invested funds generate substantial dividends for our Members. The Trust operates on a not-for-profit basis; therefore premium contributions that remain after claims or related expenses are paid, are returned to our Members, based on each Member's experience. Dividend distributions are calculated from an actuarial analysis authorized by the Board of Trustees and approved by the Department of Labor.
Oversight and Accountability
The New Hampshire Hospitality Compensation Trust is supervised by a Board of Trustees, composed of Trust Members. This assures that the program is operated in the best interest of all Trust Members. The N.H. Department of labor regulates all self-funded workers' compensation programs in New Hampshire, which includes eligibility oversight and approval.
Additional Insurance Protection
Every member of the Trust is a beneficiary of the Trust. Equally, State law requires that each and every member is jointly and severally liable for any obligations that occur during the term of the Members participation in the Trust. To reduce risk to the Trust and meet state requirements, the Trust has a reinsurance policy to limit the direct liability of the Trust in any fund year.
Workers' Compensation Act Protection
As a member of the New Hampshire Hospitality Compensation Trust, your employees retain all rights and benefits under the New Hampshire Workers' Compensation statutes, administered by the New Hampshire Department of Labor.
WE HAVE THE BEST SERVICES TO OFFER, INCLUDING...
Safety/Loss Prevention Valuable educational sessions are provided by Trust in cooperation with NHLRA to provide practical information for members. Web based loss prevention resources are also available to Members through the Trust's reinsurer - Midwest Employers Casualty Corporation. Additional direct loss prevention services are available to our Members on an as needed basis, to assist them in providing a safer work environment for their employees to reduce accidents and costly claims.
Claims Management Services
NHMTA SERVICES, INC. is our Third Party Administrator for the Trust. Located (locally) in Concord, New Hampshire, they provide complete claims management and administration. These services include all necessary investigation of claims, required filings with the N. H. Department of Labor, payment of medical costs and lost wages.
NHMTA SERVICES, INC. pursues all possibilities of subrogation/third party actions. Additionally, they facilitate and complete the required processes to obtain all potential recoveries, including reimbursement from the state's Job Modification and Second Injury Funds.
Medical Case Management Services
We have Nurse Case Management Services, provided (on a case by case basis) from a registered nurse case manager to ensure the most appropriate, cost effective medical care is provided to each Member's injured employee(s). The Nurse Case Manager, is a (local) advocate, familiar with the health care community in N.H., for all parties to ensure the best medical outcome for your employee.
Eligibility
Any food service or lodging establishment in New Hampshire, which is a Member in good standing of the New Hampshire Lodging and Restaurant Association, may apply for participation in the Trust. Underwriting criteria includes a low risk factor and a commitment to safety by the Member.
NOW THAT WE HAVE YOUR ATTENTION, HOW ABOUT A QUOTE?
Check out this great NHLRA member benefit by comparing our rates!
Let us provide you a free quote; contact Diane Symonds via e-mail at dsymonds@nhlra.com or call (603)228-9585.
