Accident Fund Offers New Group Workers’ Comp Programs in Ill., Mich.

In partnership with the Schaumburg Business Association and the Michigan Society of Professional Engineers, Accident Fund Insurance Company of America recently introduced two new group workers’ compensation insurance programs. Those groups are:

The Schaumburg Business Association (SBA) Group Program was founded in 2002 to foster and enhance the business community in and about the Schaumburg, Ill. area. In five years, the SBA has grown to more than 600 members.

The Michigan Society of Professional Engineers (MPSE) Group promotes the engineering profession and advocates on behalf of its 2,000 Michigan members. Headquartered in Lansing, Mich., the MPSE is closely affiliated with the National Society of Professional Engineers.

All members of the SBA and the MPSE are eligible to participate (subject to underwriting guidelines). Group Program benefits include a
5 percent up-front discount on workers’ compensation insurance rates and an opportunity for long-term dividends, based on each group’s safety performance.

In the last several years, Accident Fund has paid out more than $15 million in dividends to participants of similar programs. Dividends are returned to policyholders as a percentage of premium paid, if dollars paid out in claims for the entire group are within acceptable ranges.

Source: Accident Fund

Topics Workers' Compensation Michigan