General contractors in Kentucky who purchase their workers’ compensation insurance through an industry-run risk pool are slated to see millions in policyholder dividends.
The Kentucky Associated General Contractors Self-Insurance Fund announced they have been given the go ahead from the state department of insurance to release $14.8 million in dividends as of March 2012.
The 2012 dividend will mark the 18th consecutive year the AGC/SIF has returned money to policyholders. In 2010, the fund paid out $8.7 million in policyholder dividends.
As of March, the self-insurance fund will have issued over $113.9 million in total dividends over the life of the fund. Additionally, the self-insurance fund has $51.2 million in a separate dividend account that is available for future policyholder payouts.
The Kentucky AGC/SIF was formed in 1979 as an alternative source of workers’ compensation insurance for contractors and others involved in the construction trades. The Louisville, Ky.-based insurer currently has over 5,200 members and with 2010 audited premiums of over $55 million.
Topics Contractors
Was this article valuable?
Here are more articles you may enjoy.
Florida Supreme Court Approves Board Certification in Insurance Law 
Eastern States’ Grocers Shut Online Systems After Cyberattack 
Surplus Lines Leaders Remain Bullish on Outlook in a Shifting Market 
Hordes of Teens on E-Bikes Force Suburbs to Rewrite Road Rules 
