CBIA Workers’ Comp Program Shares $850K Experience Refund

CBIA’s Comp Services board of directors has announced an $850,000 experience refund for the program’s qualified policyholders.

The dividend will be distributed to those policyholders with good loss ratios.

CBIA’s workers’ compensation program has distributed more than $7.6 million in dividends to qualifying insured members since 2015. 

Over the past five years, the program has paid back 28% of premiums to policyholders, with 29.6% of premium refunded in this past policy year.

“Limiting losses is essential to the success of every organization and CBIA believes companies that pay attention to worker safety should be rewarded,” said CBIA president and CEO Chris DiPentima, president of CBIA Comp Services.  

“This dividend reflects the focus our members have on safety, which reduces the program’s loss costs, and is a reward to the members who generated these great results.”

Low Loss Ratio

The CBIA Workers’ Comp Program, administered by FutureComp, meets full state coverage requirements and is available to CBIA members in certain manufacturing class codes.

The program’s loss control and claims service have resulted in a loss ratio that’s half the industry average.

Marion Manufacturing, which just recorded 3,000 days without an OSHA-recordable injury, is one of the many companies whose safety initiatives are supplemented by the program’s loss control efforts.

Policyholders own the program, which provides on-site loss control and risk management, as well as managed care services that include a network of medical providers chosen specifically for their occupational health experience.

CBIA’s workers’ compensation program has distributed more than $7.6 million in dividends since 2015. 

This program also helps clients easily meet Connecticut coverage requirements.

Program highlights include:

• Potential dividends (over $7.6 million returned to members)
• Cost savings: competitive rates, combined with the experience refund, translate to significant savings
• Expert loss control services: benefit from specialized on-site loss control services backed by extensive experience
• Efficient claim management leads to quicker return-to-work and cost reduction
• Managed care services hold down costs and keep you informed
• Hands-on, personal service
• Network of medical providers who specialize in occupational injuries
• Monthly billing schedule eases budgeting

---

For more information, contact Todd Kaupin at Future Comp (855.874.0123; ext. 54289).