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MANUFACTURERS
GROUP SELF-INSURANCE TRUST FOR WORKERS' COMP
What
is The Business Council Workers' Compensation Manufacturers
Group Self-Insurance Trust?
The
Trust is an organization of manufacturers formed for the
specific purpose of providing statutory workers' compensation
and employers' liability coverages. Participants are usually
small- to medium-sized companies that may not have the financial
capacity to become a self-insurer on their own, but want
to reap the benefits and maintain the control associated
with self-insurance.
How
does a self-insurance trust work?
All
members pool their normal workers' compensation premiums
to pay claims and related services, loss control services,
general administrative services, premiums for required insurance
and bonds, and any other related expenses. Excess workers'
compensation insurance is purchased to reduce the exposure
of the Trust to catastrophic claims. Typically, the expenses
associated with self-insurance trusts are lower than those
of traditional workers' compensation insurance plans.
Who
are the participants of The Business Council Workers' Compensation
Manufacturers Group Self-Insurance Trust?
Manufacturers
in New York State who meet the Trust's underwriting criteria
and who have a history of favorable loss experience with
a commitment to safety. Participants must also be members
in good standing of The Business Council of New York State,
Inc.
Why
should you join the Trust?
The
Trust provides an alternative to traditional workers' compensation
insurance and allows participants to take ownership and
control of their premium dollars. For preferred risks with
favorable loss experience, this program can help to save
money by offering substantial discounts that may reduce
your annual costs. Additionally, every premium dollar paid
into the fund earns interest for the Trust.
Do
you qualify?
To
find out, simply provide our underwriting department with
the necessary information to determine if you qualify for
participation in The Trust. This information can be obtained
through your broker or we can obtain it on your behalf.
For assistance, feel free to call our underwriting department
toll-free at 1-800-948-4850.
Where
is the Trust located?
First
Cardinal Corporation's main office is located at 10
British American Blvd., Latham, NY 12110. Call us toll-free
at 1-800-948-4850 for more information.
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Council News Stories
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