BECOME A PARTNER
We market our workers’ compensation program through the independent insurance agency system throughout the country. Rather than send paperwork to all those making requests, we offer our Brokerage Agreement in two instances: 1. If after submitting an application and a quotation is given, a request is made to bind coverage, or 2. A Broker of Record letter is received on a current member. We do make exceptions for past relationships.
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THE FUND provides workers’ compensation coverage for participating members. Benefits are those included in the Alabama Workers’ Compensation Law. Excess and Employers Liability coverage is provided by Midwest Employers Casualty Company. In addition, through a special arrangement with Sentry Insurance Company, coverage for approved operations of member companies is provided for cross border exposures.
Providing loss control and claims service through Employer’s Claim Management, Inc., THE FUND works with members to encourage and enhance the safety efforts through a variety of educational services. Training programs include accident investigations, forklift training and supervisor training. Workshops covering claim and loss control techniques, OSHA reporting and other educational services are provided throughout the year. An online portal, the CompInfoCenter, for our brokers and members is available to access detailed account related information and claim information.
GROUP SELF-INSURANCE OVERVIEW
In Alabama, a self-insured group (SIG) pools the liabilities of two or more employers, generally of common interest either by industry or association relationship. Unlike the traditional market, SIG’s are not in the business of maximizing profits; we are in the business of minimizing costs to our members. The “equity position” the member enjoys in the SIG creates a stakeholder mentality that aligns the member’s interests with those of the SIG and the SIG’s interests with those of the member.
In the regulation of SIG’s, the Alabama Department of Labor requires a Joint and Several Liability Clause be included in all SIG Participation Agreements. Joint and Several Liability means that each SIG member is jointly and severally liable for any deficit that occurred during the years they were a participant in the group.
For more information, download a free copy of Understanding Group Self-Insured Workers’ Compensation Funds here.