On November 15, the Board of Trustees of the ACCG-Group Self-Insurance Workers’ Compensation Fund (GSIWCF) voted to decrease 2020 rates by 5% and to return a dividend in the amount of $4 million to those eligible members who renew their membership effective January 1, 2020.
The announced rate decrease is for the pool as a whole. Each member is individually rated, taking into account a number of factors including their payroll and loss history. Some members will receive premium decreases in excess of the 5% average, while others may receive a smaller decrease or a premium increase if they have had growth in their payroll or poor loss experience.
The $4 million dividend is designed to reward long-term membership in the Fund and will apply to those members who have been in the program since 2010. The dividend will be returned to the membership in the form of a premium credit and reduces the average member’s premium by slightly more than 13.5%. The total amount of dividends returned to the membership since 1985 is over $90 million, including Special Cash Returns of $13.5 million to the membership in 2016, 2019 and 2020.
ACCG-GSIWCF is a member-owned insurance fund that was started in 1982. 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 171 members, consisting of 135 counties and 36 authorities.
For information on the ACCG Insurance Programs, please contact Joe Dan Thompson at 404-522-5022.
ACCG
http://www.accg.org/