While the 2016 year has already marked our 35th anniversary, it will also have the honor of marking the largest premium return in Trust history. A $5 million premium return was recently declared by the Board of Directors! This is exciting news for Trust members as many will be receiving some very substantial premium return checks in the coming months.
Diane M. Ritucci, President & Chief Executive Officer says “This is the largest premium return distribution ever made in one year and is a direct result of the cumulative effect of the Trust’s strong performance the last several years. Certainly the membership has embraced our effective loss control programs, claims strategies, medical cost containment and return to work programs. These major components have served us well as we consistently have been 14 - 25% lower than the Connecticut industry averages for Workers’ Compensation costs in this state. These results prove that when we work together, we can generate fantastic results”.
Unlike standard carriers, we return this money to you, 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 $31 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 2017.