General Facts
Eligible Members: | Construction Related Contractors |
Plan Year: | April 1 through March 31 |
Number of Members: | 1500+ |
Approximate Annual Premium (To Date) | $34,000,000 |
AM Best Ratiing | A- (Excellent) |
Plan Reinsurer: | Safety National Casualty Corporation A. M. Best Rating: A- (Excellent), with a Financial Strength rating of IX |
Reinsurance Specifications: | Specific Contract: $1,000,000 retention with Statutory
limits Aggregate Contract: Self-funded by the Association Employers' Liability: $100/500/100 Additional limits can be requested |
Projected Refunds: | Over the last 21 years members have received, on average, a 21.5% refund of premium. (members with no losses) |
Administrator: | Self-Insured Concepts, Inc. – Midlothain, Virginia |
Service Company: | Landin, Inc. - Richmond, Virginia |
Regulatory Agency: | Virginia Bureau of Insurance - Richmond, Virginia |
Investment Custodian: | SunTrust Bank - Richmond, Virginia |
CPA Firm: | Adams, Jenkins & Cheatham, P. C. |