AGC and SAIF Members Rewarded for Safety Efforts
WILSONVILLE, OR The Associated General Contractors Oregon-Columbia Chapter (AGC) and SAIF Corporation announce a $7.97 million retrospective return for the 661 companies who participated in the AGC/SAIF group workers' compensation program during 2013 and 2014. This represents a 26.6 percent return of paid premiums during the policy year. When combined with the phenomenal 14 percent upfront premium discount savings, the total combined savings this year exceeds 40 percent. A retro return has been paid out to AGC members 22 of the past 23 years. These are amazing results, especially in the construction industry, where increasing activity and a shortage of qualified workers present unique challenges.
These retro dollars are based on the safety performance of all group members. Employers make investments and commitments to safety and training. Employees carry out the work, utilizing safe work practices and behaviors. Industry professionals from SAIF, AGC, and agent brokers work diligently to train and educate, manage claims costs, and get injured workers back to productive work.
The ultimate reward is the success of creating and maintaining a safety-focused environment that encourages and rewards people to be safe and productive on the jobsite. The goal is to have all workers return home to their families every day without work related injury or illness.
"It is evident that safety pays in many ways, and these great results are truly a team effort," said Colette Evers, AGC Safety and Education Director. "Fewer claims, more people working safely, and retro dollars being reinvested into our members' businesses. These are great signs of an improving economy and that our members truly do pay attention to the safety and well-being of their employees."
The actual total payout to participants will surpass $9.1 million after the Department of Consumer and Business Services and non-disabling claim reimbursement adjustments are made. Individual results and retro checks will be mailed directly from SAIF to policyholders in mid-August 2015. Total retro returns spanning the 23 year history for the AGC/SAIF program now surpass $166 million.