The ACCG-Group Self-Insurance Workers’ Compensation Fund (GSIWCF) Board of Trustees recently voted to decrease rates 3 percent for 2017 and to return a dividend in the amount of $3.75 million to those members who renew their membership for 2017.
The rate decrease is for the pool as a whole. Each member is individually rated, taking into account a number of factors including payroll and their loss history. Some members will receive premium decreases in excess of the 3 percent average, while others may receive smaller decreases or premium increases if they have had growth in their payroll or a history of poor losses.
The dividend is designed to reward long-term membership in the Fund and will be in the form of a premium credit to those members who have been in the program since 2007 or earlier. The total amount of dividends returned to the membership since 1985 is over $68.7 million, including a Special One-Time Return of $5 million that was returned to the membership in August of 2016. The $3.75 million dividend that will be returned to the membership in 2017 reduces the average member’s premium by slightly more than 12 percent.
Established in 1982, the ACCG-GSIWCF is a member-owned insurance fund. The pool provides workers’ compensation coverage for Georgia counties and authorities. McDuffie County Commissioner Fred Favors serves as chairman of the ACCG-GSIWCF Board of Trustees. The Fund currently has 167 members, consisting of 130 counties and 37 authorities.
For information on the ACCG Insurance Programs, please contact Joe Dan Thompson at 404-522-5022.
ACCG
http://www.accg.org/