CompTrustAGC Bonanza Credits Hit $115 Million

 CompTrust Trustees L to R: Billy Norrell, Alabama AGC, Steve Hale, Hale Building Company, Inc. Anniston, AL, Dave Marbury, B.H. Craig Construction Co. - Florence, AL, Charlotte Kopf, Alabama AGC - Mobile Section, Mike Tew, S.J. & L, Inc. Mobile, AL, Ricky Saliba, Saliba Construction Co., Inc. Dothan, AL, Alex Whaley, II, Whaley Construction Co., Inc. - Troy, AL, 

CompTrust Trustees L to R: Billy Norrell, Alabama AGC, Steve Hale, Hale Building Company, Inc. Anniston, AL, Dave Marbury, B.H. Craig Construction Co. - Florence, AL, Charlotte Kopf, Alabama AGC - Mobile Section, Mike Tew, S.J. & L, Inc. Mobile, AL, Ricky Saliba, Saliba Construction Co., Inc. Dothan, AL, Alex Whaley, II, Whaley Construction Co., Inc. - Troy, AL, 

CompTrustAGC – the leading construction workers’ compensation fund in Alabama – has given back more than $115 million to its members.

The fund, which has provided workers’ compensation insurance to the non-residential construction industry for more than 30 years, has returned the credits to its members since the Bonanza Premium Credit program was started in 1995.

“The Bonanza Credit program is our way of recognizing members’ participation and their commitment to safety,” said Construction Services Co. President Jeff Rodgers. “Half of the premium credit returned to members is based on safety performance. So, CompTrustAGC members’ focus isn’t just on the bottom line, it’s on the employees – and their families -- who make this great industry what it is.

“The fund has four full time safety consultants that visit 2,000 jobsites every year in an effort to help contractor members attain their safety goals.”

CompTrustAGC – the most financially sound workers’ compensation fund in Alabama and the only fund with an AM Best rating (A-) – was created by contractors for contractors. Because of the outstanding leadership provided by participating contractors the fund has been extremely successful and provides the flexibility and benefits of a self-insured program with the financial security of first-dollar insurance. CompTrustAGC has $90 million in undiscounted reserves with $42 million in members’ equity.

While CompTrustAGC has enjoyed success through the years, we have not been resting on our laurels. Two years ago the trustees made some positive changes, adding products such as expanded out of state coverages, deductibles and discount programs. And just this year CompTrustAGC rolled out its property and casualty division – AGCP&C.

AGCP&C provides AL/GL and other property and casualty coverages through a facility with Benchmark Insurance Company to those companies that participate in the workers’ compensation fund. With the new arrangements on out of state coverages and AGCP&C through a facility with a national carrier, our members have access to a full line of insurance products with national coverage. So, CompTrustAGC can go with our members wherever their business leads them.

For more information on Bonanza Credits or to obtain a quote, please contact Tammy King (205) 451-1414 or tammyk@alagc.org.