Kentucky Associated General Contractors Self Insurers's Fund
Workers' Comp Self Insurance Program
Kentucky AGC/SIF continues to meet the Kentucky Construction Industry's Workers' Compensation needs with the no-nonsense approach of TOTAL commitment to its members demonstrated by its rates, its dividends and its service in conjunction with its financial strength and stability.
The Fund's Coverage:
Kentucky AGC/SIF has provided continuous statutory workers' compensation coverage for its members for the past 30 years. Additionally, it provides out-of-state coverage and incidental USL & H coverage for its members who use REGULARLY employed Kentucky employees. It is the best that it can be in Kentucky.
The Fund's A.M. Best Rating: A-
In 1998, the Kentucky AGC/SIF was the FIRST self insurers' group in the nation to apply for and the first in Kentucky to earn an A.M. Best rating. A.M. best is a membership oriented independent watchdog of insurers for their financial strengths and weaknesses. The rating is now the Fund's barometer for its members and the world to gauge its financial strength and success. Best's definition of A- is "EXCELLENT". Please contact your agent or the Fund Administrators for additional explanation.
The Fund's Rates:
For specific rates, please view the fund's website at www.kyagcsif.com or contact your insurance agent, of the Fund directly.
Some Fund Features:
Administation: Highly experienced and qualified in underwriting, claims management and policy implementation to collectively offer a superior product to its members in the form of controlled risks, loss experience and rates.
Premium Payment Method: Designed to allow most Fund members to pay monthly on actual payroll and not estimates to avoid large audit hits at the end of each year which effectively helps level cash flow.
Safety: Risk management services are provided annually for each and every Fund member regardless of size which is usually reserved for the very large contractor in other markets. These services preventively help members eliminate potential losses which could otherwise lead to higher loss experience and higher Fund rates overall.
Trustees: Direct the Fund as your representatives from your trade associations which provides a direct link between your needs and Fund policy.
The Fund's Excess Insurance:
The 2008 Kentucky AGC/SIF provides ADDITIONAL PROTECTION to its members by purchasing statutory excess insurance which effects a stop loss against its members' equity. Employers liability is also purchased with coverage of three million dollars per occurrence.
How to Enroll Now:
1) Minimum normal premium must be $1,000. If accepted, normal premium of $1,000 to $1,600 must be paid in advance.
2) You must join or currently be a member of one of the 7 trade associations listed here.
a) Associated General Contractors of Kentucky
b) Builders Exchange of Louisville
c) Home Builders Association of Kentucky
d) Kentucky Association of Highway Contractors
e) Kentucky Association of Plumbing, Heating, and Cooling Contractors
f) Kentucky Crushed Stone Association
g) Western Kentucky Construction Association
(Current status must be maintained.)
3) If you are using an agent, the agent must also be a member of one of the 7 trade associations and will be paid a competitive quarterly commission on all new and renewal business.
4) You or your agent request and receive an application to join the Kentucky AGC/SIF from one of the 7 trade associations or the SIF office.
5) Submit the application along with required information including: loss runs, audited payroll & premium by job class code for, 'past six years' estimated payroll worksheet, statement of net worth and new member information sheet.
6) Meet the underwriting criteria established by the Fund and if met, gain membership to the Fund.
The Kentucky AGC/SIF financial information is available upon request.
Any information contained in this document is subject to change without notice by the Kentucky AGC/SIF Board of Trustees.
The Kentucky AGC/SIF, SERVING your Workers' Compensation needs for the past 30 years.