Amount brings total returned since 1988 to more than $100M
The Board of Trustees for the
Louisiana Restaurant Association’s Self Insurer’s Fund (LRA SIF) for Workers’
Compensation has approved declaring a dividend to eligible plan participants in
the amount of $2.02 million.
The LRA SIF, since 1988, will
have cumulatively returned approximately $101.7 million in surplus and safety
dividends to eligible members.
For the 26th
consecutive year, the Fund has declared a surplus in unused premium and
interest income that will be returned to members. This surplus will include
eligible participants from the fund years 2008, 2009 and 2010 and be paid in
April 2014.
“The LRA SIF was pleased to
lower its rates once again this fall, for the third time in four years,” said
LRA SIF President & CEO Stan Harris. “Our members have shown a commitment
to workplace safety practices and as a result, we see lower accident rates. Our
Fund is focused on best-in-class member services, combined with our
complimentary loss prevention and safety training.”
For 32 years, the LRA SIF has
served as one of the most respected providers of workers’ compensation
insurance in Louisiana. The Fund’s management continues to focus on efficiency
and timely claims handling to keep its member costs very competitive.
To be eligible for a
dividend, the member must be in good standing with the LRA and the LRA SIF and
have a loss ratio that is equal to or less than 70 percent for the years
declared as of March 3, 2014.
In October 2013, the LRA SIF
announced a rate reduction on premiums for its Fund, which specializes in the
hospitality industry.
“Our members’ positive
outcomes allow us to lower their rates,” said Harris.
To learn more about how the LRA SIF can help you reduce your
workers’ compensation costs and to get a quote, call Babs Schultz at (504)
454-2277 today.
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