Company Profile

Human Services Benefits Company (HSBC), formerly known as Community Services Benefits Company, has been in existence for over 10 years. HSBC is a licensed insurance broker operating along the Eastern Seaboard from Delaware down through South Carolina and into the mid-western states of Wisconsin, Michigan and Minnesota. The agency deals exclusively with social service and non-profit agencies. In 1995 HSBC developed a self-insured workers' compensation program for a specific Maryland non-profit association. Currently, the self-insurance group has 48 members, covering approximately 30,000 employees. The loss ratio for this program has consistently stayed below a 45% level.

In 1996 HSBC created a property/casualty Risk Purchasing Group that is marketed through broker and is specifically designed for social service and non-profit agencies. Philadelphia Insurance Group, a national carrier rated (A+) by A. M. Best Company, sponsors the program. The RPG includes a complete package of property/casualty products for social service and non-profit agencies.

Based on the success of HSBC Self-Insured Workers' Comp program, a similar fully insured workers' compensation package was developed in 1999. Alea North American Insurance Company, a national carrier rated by A. M. Best Company, sponsors the program. It allows us to offer all of the benefits of our self-insured plan to social service and non-profit agencies in states outside of Maryland. All underwriting, policy issuance and billing is handled by HSBC staff with claim management and legal defense provided locally.

As an added benefit to our clients, HSBC employs an outside safety consultant who oversees the development and implementation of the company's various safety programs along with a full time trainer. As a result of our safety and training services, HSBC has been able to assist its clients in controlling losses and effectively helping them reduce their insurance cost.