It may be a few weeks early but the Trust is doing its part to ensure members a truly “Happy New Year” with the announcement of a $5 million premium return for the 2017 year. This year’s return ties the record return of last year and will deliver, yet again, hundreds of large premium return checks to members in the upcoming months. The Trust continues to produce very profitable financial results in some of the industry’s most challenging occupational classes, further contributing to a very strong bottom line.
Diane Ritucci, President and CEO stated: “These outstanding financial results are one of the many rewards generated by the very effective working relationship the Trust builds with its members through their support and implementation of our unique and comprehensive loss control and claims management programs. We know these are financially trying times for many members and it gives all of us at the Trust a great sense of joy and satisfaction to see the fruits of our combined efforts result in placing $5 million of working capital back into the hands of our members.”
For the vast majority of Trust members, that competitive workers’ compensation premium you received from the Trust at your last renewal just got even more attractive when your premium return is applied!
The Trust continues to maintain its strong financial position as Connecticut’s fifth largest provider of workers’ compensation overall and the state’s largest provider to the healthcare and human service industry. Unlike standard carriers, we return this money to our members, not to stockholders. Just one of the many differences that makes the Trust the best place for your workers’ compensation coverage! We have now returned over $36 million to our members to reinvest into their businesses and provide valuable services to Connecticut’s most needy citizens.
The premium return program rewards currently active members based on a combination of each individual member’s longevity with the Trust, loss ratio and proportionate share of premium. Each qualifying member will receive their check in the 30 day period preceding the renewal date of their policy in 2018. Each member that qualifies for a premium return will receive a letter by January 1, 2018 informing them of their premium return amount and when they can expect to receive their checks. Also, each broker will receive a letter informing him/her of their accounts that qualify for a premium return and the amount of each return.
Happy Holidays! Thank you for your continued support!