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.”