Alabama AGC’s workers’ compensation fund, CompTrustAGC, remains one of the largest, most stable construction self-insured fund in the state. CompTrustAGC is the only self-insured fund in Alabama with an A.M. Best rating of A-.
What does this mean to a contractor? While you work hard to ensure that your business is financially secure you may not be if you are in a fund that is not financially secure. Participants in a self-insured fund are joint and several liable for the other participants. So, if the fund you are in is not financially sound you could be responsible for liabilities it incurs.
CompTrustAGC has more than $90 million in assets with a well-capitalized members’ equity. Since 1994, CompTrustAGC has returned more than $101 million in contribution credits to its members.
You can become a leader in the industry through participation in Alabama AGC. And, you have the ability to place your business with a secure, financially sound workers’ compensation fund located in Alabama with a secured A.M. Best rating that no other Alabama fund has.
With today’s economy, this gives you the peace of mind of knowing you are indeed looking out for your company’s best interest.
The AM Best rating process involves a comprehensive analysis of a company’s balance sheet strength, operating performance and business profile. This includes comparisons to peers and industry standards as well as assessments of operating plans, philosophy and management.
A.M. Best Company is a global full-service credit rating agency dedicated to serving the insurance industry. It began assigning ratings in 1906, making it the first of today’s agencies to use symbols to differentiate the relative creditworthiness of companies.
You may see CompTrustAGC’s rating by going to www.ambest.com and using the A.M. Best #055028 or by typing in Alabama Branch of Associated General Contractors of America, Inc. Self–Insurers Fund.
In addition to that rating, CompTrustAGC has given back $101.4 million in contribution credits (dividends) since 1994. Approximately 330 Alabama AGC members participate in the fund.
During the 2014 year, our insured’s have been receiving their share of $3 million in credits.
Also, Alabama AGC has the ability to apply additional discounts to the already reduced premium on new submissions until the insured is eligible to participate in our dividend program.
Contact Josh Caton at (205) 451-1400 or firstname.lastname@example.org for membership information. Contact, or have your agent contact, Tammy King at (205) 451-1414 or email@example.com to get a workers’ compensation quote.