- Building a Reserve – Through Infiniti Insurance Trust, members build a reserve of funds (that remain as a ledger sheet asset for the member) out of which claims will be paid. Unlike the state unemployment system, this reserve is owned by the member and can be recovered if they leave. It also provides necessary protection from unexpected claims. The Trust conservatively invests these reserves in order to help build an organization’s assets.
- Reduced Rate – Because funding is based on member-specific unemployment claims experience, a member will pay a lower rate than they would through the state system, while still being protected through the trust. In a trust, liability is typically not pooled, whereas the state system socializes rates to cover companies with higher claims.
- Established Funding Rates – Infiniti Insurance Trust members can spread claims liability out over the course of the entire year to preserve cash flow. This allows for easier annual budgeting. Because an organization is liability for any claims costs immediately as they occur, reimbursing on your own can mean steep highs and lows depending on claims activity. With the Infiniti Insurance Trust, your claims are paid out of your account so you usually won’t see this kind of volatility.
- Stop Loss Protection – Infiniti Insurance Trust provides a stop-loss protection in the event of a major spike in claims that your account cannot cover. Therefore, your claims will always be covered without concern, and you can later rebuild your account through your deposits.
- No Surcharges – You will not pay state surcharges, unless mandated against all employers in your state regardless of reimbursing status.
- Claims and Program Management – We integrate our program with best practices to assure every claim is managed from start to finish and our members are positioned for successful outcomes. Our detail-driven approach results in assured unemployment cost control and improvement on historical outcomes.
- Immediate tax rate and admin fee reduction
- Contribution rates specific to your exposure
- Contribution options including pay-as-you-go
- Stop-loss insurance and bonding
- Recovery of assets from incumbent trustee
- Interest bearing assets owned by you
- Aggressive claims management/program admin
- Reduced volatility of claims costs
- Integrated pre-hire screening platform
- Access to Infiniti HR deliverables: payroll, human resource, risk management & employee benefits