Shared Agency Risk Pool (SHARP)

How does the Pool Work?

Workers’ Compensation rates in California have skyrocketed and are expected to continue rising. Policies are being canceled and the market is restricting, leaving public agencies few choices. Thus more small and medium-sized agencies are turning to pooling as way to control their costs.

Members contribute to the Pool to pay claims up to $250,000. SHARP participates in an excess pool to pay claims above $250,000, with re-insurance also purchased for all members. Claims are administered by York Risk Services on behalf of the members.

Pool Benefits of SHARP

Pooling gives SHARP members the benefits of primary coverage and the flexibility of self-insurance without the added expense of a traditional insurance company.

Better Pricing

• No insurer “markup” for sales and administrative expense
• Access to better rates from excess and re-insurance markets
• Underwriting based on similar lower-risk entities

More Control

• Ability to select an examiner and manage the claims process
• Representation on SHARP Board to choose funding options

More Predictability

• Spread of risk among similar entities leads to more stable costs
• Removes reliance on primary insurance market and its pricing fluctuations

The End Result

• Workers’ Compensation program that provides you with more flexibility and control of the claims process, higher quality claims service, more stable pricing, and the satisfaction of knowing you are working together other similar agencies to manage the claims.