Members of the Michigan Counties Workers’ Compensation Fund (MCWCF) will receive $3.2 million in premium dividends this fall, the largest single-year dividend in the fund’s nearly 40-year history.
These dividends result from “surplus” funds from policy premiums paid by members, but not utilized due to the fund’s excellent claims management and innovative loss prevention strategies, explained Timothy K. McGuire, the fund’s administrator.
“The focus of the fund is on employee protection,” McGuire said. “We do webinars, newsletters, on-site safety visits, whatever we can to assist our members in identifying ways to prevent injuries. When injuries are prevented, claims go down, which leads to these premium dividends.”
The fund, a nonprofit, member-owned pool, was started in 1979. Its 81 members include county governments, medical care facilities, housing commissions, road commissions, transport authorities, community mental health agencies and villages.
“As a long-time board member, it’s so gratifying to see the cycle of innovation and investment leading to better and better results for our members,” said Doug Johnson, president of the fund’s board and a commissioner for Otsego County.
In addition to issuing record dividends, the fund continues its Loss Prevention Grants program, which, after a round of grants in September, has now provided more than $150,000 since 2014. These grants help members to make investments in equipment to protect employees on the job.