Company information
SAIF Corporation is unique within Oregon.
Charter
SAIF's charter
SAIF was created by the people of Oregon through the state legislature "to make insurance available to as many Oregon employers as inexpensively as may be consistent with the overall integrity of the Industrial Accident Fund - and sound principles of insurance."Vision and mission
SAIF’s vision
SAIF will be an industry innovator that makes Oregon the safest place to work. We exist to serve and protect the Oregon workforce, meeting the needs of workers and employers and strengthening Oregon’s economy.SAIF’s mission
To constantly improve Oregon’s workers’ compensation system by setting the industry standard for affordability, availability, innovation, efficiency, and service quality.Leadership principles
SAIF's leadership principles
1) Real people depend on us every day.
Each policyholder and each injured worker is a person with a name and a story. No one is just a number.
2) We are not just another insurance company.
We have an important statutory charter. Our role as a public corporation carries with it the responsibility to set the standard for the industry and to behave as a public entity.
3) Stability is important.
We have been here since 1914. The people of Oregon can depend on SAIF.
4) Competition is good for Oregon, and it is good for SAIF.
We are committed to the three-way workers' compensation system (SAIF, private carriers, self-insureds) that has existed since 1966.
5) The financial stability of the Industrial Accident Fund is our most important responsibility.
We have to ensure that we have adequate reserves and surplus for injured workers long after all of us are gone.
6) We operate with integrity in everything we do.
We are accountable, open, and transparent. The people of Oregon deserve nothing less.
7) We strive for simplicity.
Doing business with SAIF needs to be as easy as possible for policyholders, injured workers, and the medical community.
8) We are committed to superior customer service.
We will continue to be responsive to our customers' needs.
9) We are fair.
We make decisions objectively and consistently while recognizing that every policyholder and injured worker is unique.
10) Innovation is good.
We work every day to improve our insurance operations and our corporate management.
Additional Resource: Printable handout
To print the SAIF leadership principles as a color handout, click here.
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Fact sheet
SAIF fact sheet
SAIF Corporation is a not-for-profit, state-chartered workers' compensation company. We make workers' compensation insurance affordable and available to the employers of Oregon. And we strengthen the Oregon economy by helping to keep workers' compensation insurance costs low while keeping the workplace safe.SAIF was created by the people of Oregon through the Oregon state legislature. We began in 1914 as a state agency, and in 1980 we became the nation's first public corporation specializing in workers' compensation insurance.
A five-member board of directors appointed by the governor oversees the operation of SAIF and appoints the corporation's president. Brenda JP Rocklin has served as president and chief executive officer of SAIF since August 12, 2004.
Our corporate headquarters are in Salem, Oregon, and our regional offices are in Baker City, Bend, Eugene, Medford, North Bend, Pendleton, Portland, Roseburg, and Salem. All our offices provide loss control, marketing, premium audit, investigation, and return-to-work services for our customers.
SAIF's place in the market
- Number of customers insured (including share of assigned risk pool) (as of Dec 31, 2007) | 51,288
- Premium market share (2006) | 45.8 percent
- Total investments (2007) | $3.6 billion
- Loss and loss adjustment expense reserves (2007) | $2.8 billion
- Direct earned premium (2007) | $453.8 million
- Investment income (2007) | $154.0 million
- Dividend paid (2007) | $60.0 million
Claims management
- Total number of reported claims (year-end 2007) | 43,123
- Total number of claims accepted (year-end 2007) | 36,188
- Total number of claims denied (year-end 2007) | 6,277
- Requests for hearings (2007; includes assigned risk accounts) | 3,422
Fraud/Investigation/Third party
- Judgments ordered (2007) | $40,896
- Injured worker convictions, judgments, and settlements (2007) | 42
- Reserve reductions through fraud and surveillance (2007) | $35,759
- Third party recoveries (2007) | $6,377,909 credited to employers
SAIF Corporation
- Over 600,000 Oregon workers - 33 percent of the state's workforce in 2006 - were covered on the job by SAIF.
- Nearly 50 percent of the workers' compensation insurance policies in Oregon are issued by SAIF.
- SAIF is the 18th largest issuer of workers' compensation policies by direct written premium volume in the United States.
- On average, SAIF makes claims decisions in half the time allowed by law, and we consistently provide the first time-loss check to injured workers more quickly than our competitors.
- Over the past five years, over 95 percent of SAIF's policyholders have continued to do business with us.
- SAIF's competitiveness helps keeps Oregon's pure premium rates among the lowest in the nation; rates have declined or remained steady in every year since 1990.
- SAIF employees (as of Dec 31, 2007) | 868
- SAIF monthly payroll (as of Dec 31, 2007) | $4.4 million
Additional Resource: Fact sheet handout
To print the SAIF Fact sheet as a color handout, click here.
Note: Adobe Acrobact Reader required.