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Government receives insurance dividend

POSTED: February 9, 2013 4:29 p.m.
 

Forsyth County has received a share of a $3.25 million dividend from the board of trustees of the Association County Commissioners of Georgia-Self-Insurance Workers’ Compensation Fund.

The dividend of about $1,350 will be returned in the form of a credit toward county workers’ compensation premium for the 2013 policy year.

The self-insurance compensation fund is owned by Georgia county government members providing workers’ compensation insurance to counties since its inception in 1982.

The fund collectively self-insures a large portion of the risk, which allows county governments to purchase nonprofit insurance coverage at cost-efficient rates typically better than a county could negotiate on its own.

Fred Favors, vice chairman of the board of trustees, said in a statement that the dividend returned to the counties “rewards those long-term members of [the] workers’ compensation fund and can result in a significant reduction in their insurance premium.”

 

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