The ComptrustAGC Trustees recently approved a $3.5 million Bonanza Credit to be distributed to CompTrustAGC participants this fall.
CompTrustAGC – the largest and most secure non-residential construction workers’ compensation fund in Alabama – has returned more than $110 million to its participants in the last 20 years.
The most trusted workers’ compensation fund in Alabama, CompTrustAGC has and always will be by-and-for contractors. 2016 marks the second consecutive year that the fund has returned $3.5 million to its members.
CompTrustAGC remains the only fund in Alabama with an AMBest rating of A-. With $90 million in assets, a policy to not discount reserves and $43 million in members’ equity, CompTrustAGC is far and away the safest fund in the state.
All participants in self-insured insurance funds are joint and several liable for losses incurred. So, the financial health of the fund a contractor chooses is extremely important. Contractors are careful when they select business partners such as subs and they should be just as diligent when choosing an insurance fund.
Because of its unparalleled strength, contractors who choose CompTrustAGC not only get the financial benefits of fund participation, they also in essence get the peace of mind of first-dollar insurance.
While CompTrustAGC was formed more than 30 years ago, its trustees have not let it rest on its laurels. In 2015, after an in-depth study with the aid of Fails Management Institute, the fund made significant changes in products to help contractors to remain competitive in their markets. And it made a commitment to partner with contractors members to help manage their risk.
As part of that commitment, CompTrustAGC started:
1. An Emerging Contractors Program that allows the fund to work with contractors whose premium would not have reached the old $10,000 minimum.
2. A Deductible Plan with five different levels of deductibles to allow contractors to increase their participation in risk management for their businesses and lower their premiums. The Deductible Plan allows contractors to better make risk management decisions and keep their businesses more competitive.
So, CompTrustAGC – with its unparalleled financial strength, the outstanding premium (Bonanza) credit ($7 million returned to members in two years) and new programs – allows a contractor to be more competitive and make better make risk management decisions
And now our new line of products lets you get more involved in charting the risk management course for your business. No other fund or captive can compare to the creativity and security CompTrustAGC provides.