Considering Selling Your Business?

Opportunities sometimes arise allowing the sale of your business. When this happens, you should be aware that your Self Insured Group membership may be easily transferred to the new owner. 

When it comes to selling your business, many SIG members overlook the value of their workers’ compensation program. You may recall that as a member of your SIG there were significant qualification requirements that you had to meet. Once those requirements were met you were rewarded with lower rates and better service. You have received assistance with creating a safer work place and possibly benefited from employee background checks or the establishment of a post-accident drug test program. Hopefully, these services have assisted with a reduction in losses and further savings on workers’ compensation assessments.

Potential buyers may not be thinking of their workers’ compensation requirements. In fact, when they become aware of the State requirement they may just pick up the phone book and call the first name they come across. You can help them by informing them of your involvement in your SIG and having them contact Pro Group Management to discuss transfer of your SIG membership. It may be as easy as completing an application and signing a new Joint and Several Liability agreement.