Emanuel County recieves dividend from ACCG
by Emanuel County Live | January 29, 2009 12:00 am
Emanuel County has recieved a dividend in the amount of $23,243 from the Association County Commissioners of Georgia – Group Self-Insurance Workers’ Compensation Fund (ACCG – GSIWCF). The dividend is Emanuel County’s share of a $3 million dividend declared by the Board of Trustees. The dedicated and successful management efforts of Emanuel County towards the implementation of loss control and the promotion of safety contributes significantly in the reducation of injuries, claims, and costs. The dividend will be returned in the form of a premium credit, applied toward Emanuel County’s workers’ compensation premium for the 2009 policy year.
Georgia law, enacted in 1982 at the request of Georgia county governments, allowed county members to pool their resources by forming a non-profit insurance fund to provide for anticipated losses and expenses. The self-insurance program is an effective method of financing insurable risks, which reduces insurance costs for the county and benefits taxpayers. The ACCG – GSIWCF collectively self-insures a large portion of the risk, and is owned by Georgia county government members. The Board of Trustees, who are representatives from participating Georgia counties, manage the Fund. The ACCG – GSIWCF provides professional loss control and safety services at no additional cost to help minimize claims.
The dividends are possible because of favorable results in the investment of premium dollars. The surplus of premium dollars held in reserve to pay claims, belong to the member county governments and is derived from the underwriting gains, when losses are less than expected. This investment income benefit is shared with the membership, and is an important part of the success of the ACCG – GSIWCF Program.