A Workers Compensation policy that works for one trucking company may not be right for another. The experienced Workers Compensation underwriters at Great West Casualty Company are specialists in tailoring insurance programs and payment options to fit the unique needs of motor carriers.

Some of the Workers Compensation programs available at Great West are listed below.

A guaranteed cost plan is a Workers Compensation insurance policy that is not subject to adjustment due to losses that occur during the policy term.

The only variables affecting premium that may change between policy inception and audit is the experience module (e-mod) and payroll.

There is no deductible with this program. This is in contrast to loss-sensitive plans.


On a large deductible plan, the employer purchases Workers Compensation insurance with a deductible of at least $50,000 (often $250,000 or more).

Great West provides administrative and claim services, and the employer reimburses Great West for any losses paid under the per claim occurrence deductible.

In a large deductible plan, premium is calculated on a guaranteed cost basis and then a factor (deductible credit) is applied for the insured taking the first “layer of losses.” The premium is less than a guaranteed cost plan because the insured will be paying the first layer of losses.

A retrospective rating plan is a Workers Compensation insurance policy that makes a subsequent adjustment to premium, after policy expiration, based on losses generated during the policy period. It is a great alternative for insureds in states that do not allow large deductible plans.

The adjustment can fluctuate within set parameters, based on the losses generated during the policy period.

The retrospective rating plan period can be one or three years in length with adjustments continuing annually until all claims are paid.

These types of coverages are available for employers that have been granted self-insured status by a state.

Excess General Liability policies promise to reimburse the insured, up to the limits of the Excess Workers Compensation policy, for Workers Compensation liabilities that they are obligated to pay and that exceed their authorized self-insured limit.

This material is a broad overview only, provided for informational purposes. Great West Casualty Company (GWCC) does not provide legal or employment-related advice to anyone, and this is not intended to serve as such advice. Such advice should be sought from your legal counsel. GWCC shall have no responsibility or liability to any person or entity for any issue alleged to directly or indirectly result from the use of this information.