The service SIG provides includes an aggressive claims management process, a significant amount of hands-on safety resources free of charge and dividends for good performance.
The commitment of the SIG members, paired with that of our Board of Directors and fund administrators, has led to dividend distributions over $14.5 million since inception. Our loss ratios remain in the single digits versus those of the commercial industry which average 65%.
Regardless of economic market conditions, the SIG’s appetite and resources have remained consistent and our members never shop their workers compensation again. Please join your peers and join our successful program by clicking through the links and reaching out.
- 30 members in the self insurance group
- The SIG has achieved strong historical premium savings as compared to the standard workers’ comp market – nearly 30% since 1994.
- Since 1994, $61 million in Premium has been collected and the program has returned over $14.5 million dollars to members in the form of dividends.
- The program provides aggressive claims management and unlimited, industry specific safety services managed by Contractors Risk Management.
- Membership in the SIG ensures consistency and stability from the volatile standard workers’ compensation market.
- The program is goal-driven and is overseen by a Board of Trustees dedicated to returning the Group’s profitability to membership in the form of annual dividends.
- 99% member retention rate since 1994.
- Annual premium collected approximately $3 million (current and based upon membership level)
- SIG 1% litigation rate as compared to the industry average of 26%
Criteria to Apply/Join:
- Premium size $25,000 - $600,000
- Ex MOD 1.0 or below (exceptions may be given)
- Non Union
- Must be member of ABC NHVT Association
- Quote provided with submission of:
- 5 Years Loss Runs
- Copy of w/c policy and/or work comp rate sheet with all class codes
- Payrolls for each class code listed
- Signed Indemnity Agreement
- Audited financials or tax returns (passing 3 of 6 financial criteria)
- Strong safety commitment and mandatory attendance at monthly safety meetings (currently all held virtually due to COVID)
- Positive safety inspection – must pass safety standards
- Reinsurance carrier may be notified prior to SIG membership if class code or risk is outside the typical risks within the group, if MOD is over 1.0 or is there are claims over $100k