Workers' Compensation -- Maryland
NFIB members in Maryland can now take advantage of IWIF’s cost-effective workers compensation coverage and be eligible for a dividend based on the performance of the NFIB/IWIF Group Safety Plan.
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IWIF Business Marketing Manager Adolph (Butch) Bucci presents a symbolic check for the NFIB group's $102,537 dividend to NFIB State Director Ellen Valentino and NFIB Program Manager Kevin Scullen. Individual checks were mailed to NFIB members or their insurance agents in October. |
IWIF declared $102,000 workers' compensation dividend for NFIB/IWIF Group Safety Program
In October 2008, the National Federation of Independent Business and the Injured Workers' Insurance Fund (IWIF) were pleased to announce a 12.5 percent dividend to qualified participants in the NFIB/IWIF Workers Compensation Group Safety Program for the period of Jan. 1, 2007, to Dec. 31, 2007.
The dividend is based on an 18-month evaluation of the program performed June 30 and represents two-thirds of the total dividend for that year. The program will be evaluated at 30 months from inception for the remaining one-third of the dividend.
Each Safety Group member is evaluated on earned premium and incurred losses for the year. Any safety group member that has a loss ratio of greater than 50 percent for the dividend period will not receive any portion of the Group dividend.
Safety is smart business
Because the group's success is dependent on reducing the frequency and cost of claims of all participants, there are some basic safety steps participating employers must have in place. Each of these is easy to implement. Help is available to you from IWIF and NFIB if you need assistance. Each is designed to not only keep you in the group, but will help you save money by reducing accidents and improving the effectiveness and morale of your employees.
Making safety pay
Any insurance agent in the state of Maryland can offer this program. If you want to take advantage of the NFIB/IWIF Group Safety Plan, just ask your current agent to enroll you. If your agent doesn't know about the NFIB/IWIF Group Safety Plan, he or she can visit this site and download information about the program using the links to the right.
For more information about the NFIB/IWIF Group Safety Plan, please call 866-479-5831 or fax 866-871-7387. (Have your NFIB member ID number ready.)
Not all members qualify for coverage, and members can be removed from the program based on claims experience. Dividends are not guaranteed and must be declared by the IWIF board of directors and approved by the Maryland Department of Insurance.
Would you like to pay your workers' comp premium in smaller increments?
With Payce Payroll Services you could switch to weekly, bi-weekly or semi-monthly workers' compensation payments the next time your policy renews. Plus, as an NFIB member you can save 15 percent on all Payce payroll services and W-2 processing fees. Learn more.
NFIB member benefits are offered by third parties through contractual arrangements with the NFIB Member Services Corporation, a wholly owned subsidiary of NFIB, or one of its affiliated insurance agencies.
