July 17, 2009
FOR IMMEDIATE RELEASE
Contacts: Christy Witzke | 503.373.8377 |
chrwit@saif.com Dave Miller | 503.373.8031 |
davmil@saif.com
Salem OR – Proving that safety can make a big difference to a business's bottom line, participants in an Associated General Contractors (AGC)/SAIF Workers' Compensation Program are receiving a total of $14.5 million, or 34 percent, retro return on their 2007–2008 plan year premium, the largest in the history of the plan.
Companies enrolled in the program earned an estimated total cost savings of over 53 percent. The figure includes all of the elements of the AGC/SAIF program, including up-front discounts, individual account electives, and the retrospective rating returns.
In total, more than $16 million will be returned to participating members. This includes the retrospective rating return, medical reimbursements, and the credit resulting from Oregon Department of Consumer and Business Services assessments.
"The exceptional results of this plan are an outcome of the strong collaboration between workers, employers, agents, AGC, and SAIF," said SAIF Marketing and Groups Director Christy Witzke.
"These savings represent the thousands of Oregon construction workers who went home injury-free day after day as a result of the hard work of all those involved, and that is the real success story," Witzke said.
The return will be distributed on August 7 to 713 participating members. Since the program's inception, members have benefited from more than $121 million in retrospective rating plan returns and an estimated $285 million in total net cost savings.
About SAIF Corporation
SAIF Corporation is Oregon's not-for-profit, state-chartered workers' compensation insurance company. For more information about SAIF, go to News and Media.