LSCP partner benefit pays out
MARQUETTE — The Lake Superior Community Partnership recently announced that several members have earned over $355,037 in dividends through the Accident Fund Insurance Company of America workers compensation group program.
Since the LSCP is a designated group, members receive 5 percent up-front savings on Accident Fund workers compensation insurance rates, according to an LSCP news release. Plus, when the group performs well, participating partners are eligible for dividends.
In November 2017, the group program was reviewed and it was determined to have earned a 10 percent dividend for partners who participated in the Aug. 1, 2015, to July 31, 2016, program. The $355,037 in dividends is being paid to nearly 287 participants. The group will be reviewed again next year for another possible dividend distribution. Since 2004 Accident Fund Insurance Company of America has paid participating members dividends in excess of $1,257,249.
“The LSCP has partnered with the Accident Fund Insurance Company of America to allow us to provide this benefit for our LSCP partners,” Kennan Marana, membership coordinator at the LSCP, said in the release. “It is a benefit that pays back to businesses and at times covers the cost of yearly partnership dues.”
Scott Koski, an accident fund adviser at VAST, said:
“Our Upper Peninsula clients who participate in the … program have access to some of the best value added services in the industry. Discounted workers compensation rates, potential premium dividends, Accident Fund loss control services and access to each of the individual partner services makes the program a success for each of our mutual clients who are involved.”
To join the Accident Fund groups program, contact the LSCP for an Accident Fund Insurance Company of America agent in your area, or find an agent at www.accidentfund.com/groups.