Member Benefits

Membership Benefits

Member Driven Rates

Signal does not issue mandated rates for each F-code. Members set their own rates based on their experience record. The objective is to balance Members' records over a five-year period in line with the acceptable loss ratio, thus delivering the benefits at cost.

Cost Effectiveness

As a Member-owned mutual, Signal has no need to include a profit element in Members' rates to provide a return to shareholders. Combining Signal's non-profit approach with a very efficient administrative structure makes Signal very competitive. This cost effectiveness can be demonstrated by the fact that over Signal's history claims payments equal 93% of every dollar paid in by Members.

Breadth of Coverage

In addition to providing coverage for the Longshore Act and all of its extensions, Signal provides $10m of Employers' Liability Coverage.

Management Experience

Charles Taylor Consulting has been involved in managing mutuals for over 100 years and currently manages eight mutuals with combined assets that exceed $750m. Since 1986, the Managers have built a management team, which has considerable expertise in all aspects of providing Longshore coverage and is focused on providing service to Signal Members.

Claims Management Expertise

The members of the claims management team based in Wilton and Long Beach have an average twenty years experience in handling Longshore claims. They work in conjunction with a network of independent adjusting firms that have been selected for their proven ability in handling claims in that particular port or area of the country.

Safety Services

The Signal Safety Department has established a Safety Strategic Plan with the primary goal of reducing and controlling Members accident frequency for both, all claims and lost time claims.

Signal’s Safety Management Team has an abundant knowledge base across all maritime industries, and offers its Members specialized services specific to their operations. Each Member is assigned a professional Safety Manager to assist with achieving safety goals. The Safety Manager utilizes a Safety Management System Profile that identifies safety performance in seven major categories. After identifying the safety performance, the Safety Manager will assist the Member in implementing and monitoring a Continuous Improvement Program, which may include site visits, training, or other consultation. Signal offers seminars, self-help, and educational materials for executive management, managers, supervisors, and line employees.

Quality of Information

Signal provides claims reporting software which enables Members to electronically report claims to Signal as well as build up an extensive database on each claimant. Signal's loss runs which provide clear and concise detail on each claim are available via email at any time. For the Association as a whole, the Managers produce extensive agendas three times a year, which provide considerable reference information on all aspects of Signal.

Member Meetings

Members are invited to a range of meetings during the year, which focus on different aspects of Signal's coverage. The two open Board meetings allow upper management to understand more about how Signal operates, its financial structure and performance and to receive an overview of claims and safety developments. These meetings also give senior executives from a wide spectrum of companies in the maritime industry a chance to meet in an informal environment. In addition, Signal arranges claims and safety forums each year, which present leading medical, legal and adjusting experts. Smaller sessions, focusing on specialized claims and safety issues, are incorporated into each forum.