Wilsonville, OR— The Associated General Contractors Oregon-Columbia Chapter and SAIF Corp. announced a $12.3-million retrospective return for more than 700 companies participating in the 2006–2007 AGC/SAIF group workers' compensation program.
The amount represents an approximate 28-percent return of paid premiums during the policy year and is the largest retro return paid in the group's 18-year history.
This retro return is the cumulative effect of partnership efforts. Participating members, their employees, AGC staff, SAIF personnel, and insurance agents all work throughout the year reducing and managing claims, returning injured employees to work and minimizing costs to achieve the greatest possible retro return, thus maximizing savings for all participants.
"My company has been participating in this program since its start in 1990, and nearly every year we find out the AGC group has earned another retro return," said Todd Hess, president of Todd Hess Building Company and 2008 AGC chapter president. "That in itself is pretty exciting. But it is more than just the money — it is the depth and breadth of safety and workers' compensation expertise and knowledge that we receive from AGC and SAIF. Over the long haul, by helping me to develop strong programs and a safety culture, and providing excellent training and guidance, Todd Hess Building Company has become a better contractor, and we can provide improved services to our clients. Everyone truly benefits from the program,"
"The retro return is a welcome boon coming at a time when the economy continues to cool, especially in the construction market. Lower insurance costs enable employers to invest in safer workplaces and support the economy. Providing our members access to affordable insurance programs and construction expertise are just a few of the many benefits of AGC," said Colette Evers, AGC group programs manager.