Meadowbrook/TPA Associates, a third-party administrator of self-insured workers’ compensation programs, announced it is distributing $2,475,000 in dividends to 475 Massachusetts businesses that are members of the self-insured groups it manages.
The groups under management are the Commonwealth Transportation Compensation Corporation (trucking, moving), the Wholesale/Retail Suppliers Compensation Corporation (wholesale/retail), the Graphic Arts Compensation Corporation (printers, graphic arts), the Construction Industries Compensation Corporation, the Manufacturers of Massachusetts Compensation Group, the Independent Schools Compensation Corporation, and the Self Insured Lumber Businesses Association.
Self-insurance groups are made up of employers in similar industries. The members own the group and earn 100% of the underwriting profits and investment income. Each group contracts with Meadowbrook/TPA Associates to provide program management and a variety of operational services.
“We are pleased to see such a tangible reminder of what we already know; self-insurance is an effective way for quality employers to reduce their workers’ compensation costs and take control of their insurance program,” said James Mahoney, Meadowbrook/TPA Associates executive vice president. He said interest in self-insurance “has never been greater and the groups have seen record growth in new membership.”
Source: Meadowbrook/TPA at www.meadowbrook.com.
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