- Tue Nov 21, 2017 12:40 pm
#401169
Thank you for the information Mark. I can now make sense of the financial statements. If I understand it right we
paid actual claims of 45,200 for 2016 and 2017. I agree the IBNR makes no sense and quite frankly the operating
cost either. I am more familiar with self insurance such as medium/large fleets. I am sure they are governed differently
and get a much better deal. Their liability is set at a million per accident also. My thoughts are the whole concept
of self insurance is to avoid costly premiums and control settlements. This does not look like it works . Finally I
would want the loans paid off ASAP. This leaves little money for what we really need( site ownership). safer lz's.
paid actual claims of 45,200 for 2016 and 2017. I agree the IBNR makes no sense and quite frankly the operating
cost either. I am more familiar with self insurance such as medium/large fleets. I am sure they are governed differently
and get a much better deal. Their liability is set at a million per accident also. My thoughts are the whole concept
of self insurance is to avoid costly premiums and control settlements. This does not look like it works . Finally I
would want the loans paid off ASAP. This leaves little money for what we really need( site ownership). safer lz's.
MK4,eurosport 167,enterprise combat 152,
laminar st 14. H2.
laminar st 14. H2.