General contractors in Kentucky who purchase their workers’ compensation insurance through an industry-run risk pool are slated to see millions in policyholder dividends.
The Kentucky Associated General Contractors Self-Insurance Fund announced they have been given the go ahead from the state department of insurance to release $14.8 million in dividends as of March 2012.
The 2012 dividend will mark the 18th consecutive year the AGC/SIF has returned money to policyholders. In 2010, the fund paid out $8.7 million in policyholder dividends.
As of March, the self-insurance fund will have issued over $113.9 million in total dividends over the life of the fund. Additionally, the self-insurance fund has $51.2 million in a separate dividend account that is available for future policyholder payouts.
The Kentucky AGC/SIF was formed in 1979 as an alternative source of workers’ compensation insurance for contractors and others involved in the construction trades. The Louisville, Ky.-based insurer currently has over 5,200 members and with 2010 audited premiums of over $55 million.
Topics Contractors
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