TCA VS. TRADITIONAL INSURANCE
A TCA captive solution is similar to traditional insurance coverage in many ways. For instance, it oversees claims, adheres to applicable state and federal regulations and files income tax returns.
But there’s one important difference. TCA provides a significant monetary benefit to its Members.
Its structure allows the potential for unused premiums — collective funds remaining after claim payouts — to be returned to Members in the form of annual dividends. These “surpluses” offer Members opportunities to reinvest capital within their respective organizations — profits traditional insurance carriers would otherwise pocket.
TCA Insurance Program is designed to help Members:
▶ Reduce and stabilize insurance costs
▶ Control claim settlements and investments
▶ Recapture investment income
▶ Gain access to reinsurance markets
▶ Better manage risk
What’s more, TCA can provide this type of tailored, responsive solution in collaboration with a Member’s current insurance broker. (TCA is an open market solution.)
TCA extends underwriting, reinsurance, claims handling and loss prevention services to Members through an exclusive partnership with Philadelphia Insurance Companies, the predominant market participant for human service providers.