MEMPHIS, Tenn. – (August 13, 2020) Chamber Benefits, Inc., a subsidiary of The Greater Memphis Chamber today announced a new worker’s compensation insurance product in partnership with Salus Insurance to help local businesses manage the costs of their workers comp insurance.
The program, called MemComp, is managed through the newly-formed Chamber Benefits, Inc. (CBI), a for profit subsidiary of the Greater Memphis Chamber. CBI was created to provide high quality and affordable solutions for local businesses, while providing an additional revenue source for the work of the Chamber.
“We are proud to introduce a high quality, affordable worker’s compensation product that can help our local businesses save money and support injured employees and get them back to work quicker,” said Ted Ferris, President of CBI. “Now more than ever before, we are dedicated to bringing high quality, cost-savings programs to our local businesses that provides additional value to our members.”
"MemComp is designed for all businesses, but may be particularly attractive for healthcare, construction, manufacturing, and logistics/transportation companies as insurers sometimes shy away from these industries due to historically high claim rates. Salus Insurance specializes in these industries," Ferris said.
In addition to the Worker’s Comp product, CBI is also offering Company Sponsored Health and Wellness Clinics, Personal Protective Equipment (PPE) and other COVID-related business supplies to Chamber member companies. More products will be added to the CBI’s offering over time.
Ferris, who also serves as Chief Administrative Officer of the Chamber, said the formation of CBI provides an additional stabilizing revenue stream for the Chamber. The Chamber, which stopped receiving public funding in 2012, is funded by private investors through memberships.
To learn more about the MemComp plan, visit memcompinsurance.com or contact 866.MEM.COMP.