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AGC/SAIF Members Earn $2.5 M Retro Return

AGC/SAIF Members Earn $2.5 M Retro Return

AGC/SAIF Members Earn $2.5 M Retro Return The Associated General Contractors Oregon-Columbia Chapter (AGC) and SAIF Corporation announced today a $2,519,233 retrospective return for the 665 companies who participated in the AGC/SAIF group workers’ compensation program during 2014-2015. This represents an 8.3% return of paid premiums during the policy year. These are solid results, especially in the construction industry, where increasing activity and a growing shortage of qualified workers present unique challenges. The actual total payout to participants will surpass $3.3 million after the Department of Consumer and Business Services (DCBS) and non-disabling claim reimbursement adjustments are made. Individual results and retro checks will be mailed directly from SAIF to policyholders in mid-August 2016.

The retro return combined with the impressive 13% upfront premium discount savings creates a total combined savings this year is over 20%. A retro return has been paid out to AGC members 23 of the past 24 years. Total retro returns spanning the 24 year history for the AGC/SAIF program now surpass $169 million.

Retro return dollars are based on the safety performance of all group members, which is truly a team effort. Employers make investments and commitments to safety and training. Employees carry out the work, utilizing safe work practices and behaviors. Industry professionals from SAIF, AGC, and agent brokers work diligently to train and educate, manage claims costs, and get injured workers back to productive work.

Employers and employees alike must remain vigilant with their safety efforts.

The ultimate reward of programs like this is the success of creating and maintaining a safety-focused environment that encourages and rewards people to be safe and productive on the jobsite. The goal is to have all workers return home to their families every day without work related injury or illness. Employers and employees alike must remain vigilant with their safety efforts.

“It is evident that safety diligence safety pays in many ways” said Colette Evers, AGC Safety and Education director. “Fewer claims, more people working safely, and retro dollars being reinvested into our members’ businesses…these are great indicators that our members truly do pay attention to the safety and well-being of their employees.”

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