A workers' comp program that goes far beyond the competition

The Louisiana Restaurant Association Self Insurer’s Fund (LRA SIF) for Workers’ Compensation offers the best option for hospitality and retail focused businesses for providing this statutorily required coverage. When you consider the LRA SIF for your workers’ comp needs, you receive more for your premium dollars than with any other provider. In addition to local, in-house claims processing, our complimentary loss prevention and safety analysis services can help you identify opportunities to improve your safety environment and practices. The LRA SIF has provided a more than 30-year track record of financial stability and professionalism in serving your industry’s workers’ comp needs.

While all employers like to provide a safe workplace, you must be prepared when workplace accidents occur. Let the LRA SIF serve as your trusted resource, providing rapid claims response with the focus on getting an injured employee treated and available to return to work. We offer competitive rates with upfront premium discounts for hospitality related class codes and other potential discounts based on loss experience.

An added benefit of participating in the LRA SIF is the efforts of the LRA Advocacy Team who works year round with the Louisiana Department of Insurance and the Office of Workers’ Compensation to monitor and develop best practices to keep your costs competitive. The majority of the state legislation the LRA follows each session relates to workers’ compensation and the oversight of the system.  In the 2014 Legislative Session, which is now underway, there are numerous workers’ comp measures proposed, one of which would enhance the penalties for employers who have failed to secure workers’ compensation coverage. 

Workers’ comp coverage is required by Louisiana law and applies to all employers in the state regardless of your revenue or the number of employees. This law is in place not because the employment is dangerous or involves any foreseeable risk of injury, but rather the act establishes the presumption that anyone rendering service for another in any trade business or occupation is an employee.

When an injury or illness is found to be job-related, the affected employee may be entitled to medical care for the injury or illness, payments for their lost wages, and rehabilitation services to speed their return to work.

An important distinction of a group self insurer’s fund is the consolidation of risk over related businesses or industries, which provides for the pooling of this risk to provide competitive rates. Another benefit with a group self-insured fund is that surplus premium remaining (after claims costs and operating expenses) is returned to plan participants whose loss ratio does not exceed plan limits.

Next month, LRA SIF staff members will be distributing this year’s surplus dividends at the LRA’s nine chapter meetings. Our LRA SIF eligible members will receive their portion of the declared $2 million in dividends. Since its inception, the LRA SIF has returned more than $101 million in dividends to eligible members. Our members’ commitment to safety and getting their employees back to work has helped to create this outcome.

LRA Cenla Chapter

Monday, April 7

Diamond Grill, 924 3rd St., Alexandria

Cocktails: 6 p.m. Dinner & Presentation: 6:30 p.m.

Cost: $20

RSVP: Angela Chisholm, achisholm@lra.org; (318) 366-1326

LRA Bayou Chapter

Tuesday, April 8

Big Al’s, 1377 W Tunnel Blvd., Houma

Cocktails: 6:30 p.m. Crawfish Boil & Presentation: 7 p.m.

Cost: $30

RSVP: Courtney Waguespack, cwaguespack@lra.org; (225) 328-2163

LRA Northshore Chapter

Wednesday, April 9

Columbia Street Tap Room, 434 N. Columbia St., Covington

Crawfish Boil & Presentation: 6:30 p.m.
Cost: $30

RSVP: Jodi Williams, jwilliams@lra.org; (504) 454-2277

LRA Acadiana Chapter

Monday, April 14

Fezzo’s, 720 S. Frontage Road, Scott, LA

Cocktails: 6:30 p.m. Crawfish Boil & Presentation: 7 p.m.

Cost: $40 per person

RSVP: Courtney Waguespack, cwaguespack@lra.org; (225) 328-2163

LRA Northeast Chapter

Monday, April 14

Catfish Cabin, 1400 Louisville Ave., Monroe

Cocktails: 6 p.m. Crawfish Boil & Presentation: 6:30 p.m.                 

Cost: $20

RSVP: Angela Chisholm, achisholm@lra.org; (318) 366-1326

LRA Baton Rouge Chapter

Tuesday, April 15

Ruffino’s, 320 Third St., Downtown Baton Rouge

Cocktails: 6:30 p.m. Dinner & Presentation: 7 p.m.

Cost: $45 Farm to Table Dinner

RSVP: Courtney Waguespack, cwaguespack@lra.org; (225) 328-2163

LRA Northwest Chapter

Tuesday, April 15

Chianti Restaurant, 6535 Line Ave., Shreveport

Cocktails: 6 p.m. Dinner & Presentation: 6:30 p.m.

Cost: $30

RSVP: Angela Chisholm, achisholm@lra.org; (318) 366-1326

LRA Greater New Orleans Chapter

Wednesday, April 16

Brisbi’s Lakefront, 7400 Lakeshore Dr., New Orleans

Crawfish Boil & Presentation: 6:30 p.m

Cost: $35

RSVP: Jodi Williams, jwilliams@lra.org; (504) 454-2277 

LRA Southwest Chapter

Monday, April 28

Steamboat Bill's, 1004 North Lake Shore Dr., Lake Charles

Cocktails: 6:30 p.m. Crawfish Boil & Presentation: 7 p.m.

Cost: $25, option of boiled crawfish or seafood platter

RSVP: Courtney Waguespack, cwaguespack@lra.org; (225) 328-2163

*Due to the price of crawfish, chapter meeting prices marked TBD will be determined closer to the meeting date. Meeting reminders will be mailed and e-mailed prior to the events above and will contain pricing information. 

Meet your LRA SIF Safety Dividend Criteria before the close of 2013

The LRA SIF for Workers’ Compensation has five criteria for plan participants to meet in order to be eligible for the safety dividend and receive up to an additional five percent of their premium returned as a dividend. One of the five is to attend at least one safety seminar or webcast annually.

It’s not too late to attend this year’s LRA SIF seminar, “Workers’ Compensation Claims Management.” The seminar reveals strategies to use before, during and after a workers’ compensation claim to reduce negative effects on your business and control claims costs.

Three dates remain to attend in person—Nov. 13, 9-10:30 a.m. at Café Vermillionville in Lafayette; Nov. 14, 9-10:30 a.m. at Acme Oyster House in Baton Rouge; and Dec. 5, 9-10:30 a.m. at Jefferson Orleans-North in Metairie. Click here for more details. As an added convenience, this year the LRA SIF began offering “On-Demand Webcasts” to assist plan participants whose schedules may not permit attending in person.

The remaining four Safety Dividend Criteria are:

·         Complete the fund year with a loss ratio below 50 percent

·         Provide a written copy of your working safety program to the Loss Prevention Dept.

·         100 percent compliance with the Second Injury Board Knowledge Questionnaire. A Louisiana Office of Workers’ Compensation post-offer medical history questionnaire must be completed and on file for ALL employees.

·         100 percent compliance with Post-Accident Drug and Alcohol Testing. ALL employees must sign a post-accident drug and alcohol testing policy and if injured while on the job, must be required to submit to a drug and alcohol test.

Want to knowmore about the LRA SIF for workers’ compensation or need a comparison quote? Read about the LRA SIF rate reductions here or to request a quote, email lrasifquote@lra.org.   

LRA SIF Members to receive $2.7 million in dividends next year

It's workers' compensation coverage renewal time for many restaurant and business owners and the Louisiana Restaurant Association's Self Insurer's Fund for Workers' Compensation (LRA SIF) should definitely be on your list to quote your coverage.

Here's another great reason too. The Board of Trustees for the LRA SIF, during their final board meeting of 2012, voted to return a dividend to eligible members in the amount of $2.7 million to members.

The LRA SIF will have cumulatively returned approximately $99.2 million in surplus dividends and safety dividends to eligible members, having returned all premium not spent on claims or administrative expenses to members since 1988.

For the 25^th consecutive year, there is a surplus in unused premium and interest income that can be returned to members. This surplus will be returned to eligible participants from the fund years 2010, 2009, 2008 and 2007 in April 2013.

“In the past two years, most of our workers’ compensation competitors have been implementing significant price increases,” said Stan Harris, President/CEO for the LRA. “In this time of rising claims expense, our recently announced rate decreases are a testament to the great safety practices and lower accident rates of our members. It is because of this that we are able to continue to return a surplus dividend to our SIF participants. Our SIF requires membership in the Louisiana Restaurant Association and we welcome more than 40 independent insurance agents who have joined our program and are utilizing it for the workers’ comp needs for their hospitality clients.”

For 31 years, the LRA SIF has established itself as one of the most secure and respected providers of workers’ compensation insurance in Louisiana. The fund’s continued and consistent commitment to servicing its membership on the highest level will help ensure its future.

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 4, 2013.

The LRA SIF is committed to responsibly operating a fund with its members’ fiscal health as a priority. In October 2012, the LRA SIF announced a rate reduction in the seven most impactful classification codes related to the hospitality industry, effective January 1, 2013. Those codes include: quickservice restaurants, bars, hotels, country clubs, drivers, food manufacturing and convenience stores. A similar rate reduction was also implemented in 2011.

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.

The Louisiana Restaurant Association is one of the largest business organizations in the state, representing restaurant operations and related businesses. The restaurant industry in Louisiana is one the state’s largest private employer, providing jobs to nearly 200,000 residents. Restaurants in Louisiana are expected to generate sales of $6.5 billion in 2012.