RPS Monument’s California Private Schools Workers’ Compensation Self-Insurance Group, Inc. (CAPS-SIG) is an alternative to traditional workers’ compensation insurance. With the unique workers’ compensation needs of schools, RPS Monument develops customized safety programs, controls the claims process, and reduces costs and handles the day-to-day management of the program.
CAPS-SIG, Inc. succeeds because the covered employers have a long-term interest in preventing and controlling injuries. Each member plays two roles: a participant in the plan and a participant in the plan’s governance. Members make contributions, which fund losses and program expenses. After claims are closed and expenses paid, the surplus funds– including investment income–are returned to the members
Comprehensive benefits include:
- Lower Costs: The program has lower administrative costs than traditional insurance plans, and is not subject to premium taxes.
- Increased Control: Members have a voice in program decisions through the self-governance process.
- Tailored Accident & Injury Prevention Plans: CAPS-SIG's, loss control and avoidance programs are designed specifically for non-profit social services organizations. RPS Monument’s loss control staff includes several bilingual employees who provide quarterly on-site inspections.
- Surplus Funds Returned to Members: The plan is non-profit.
- Customized Claims Management: The claims management process includes quarterly claim reviews and enhanced communication, along with a dedicated claims team.
- Claims Litigation Strategy: The program’s litigation platform is built for the California market and the particular needs of the non-profit social services industry.