Message from the Chairman

Annual Report from Georgia Branch, AGC’s Workers' Compensation Program

From the desk of
Ted Cooper, Chairman, CompTrust AGC MCIC
CEO, Cooper & Company General Contractors

The Directors of CompTrust AGC Mutual Captive Insurance Company (CompTrust AGC MCIC) are pleased to report that the collective efforts of the CompTrust AGC membership when it comes to safe work practices and loss control initiatives continues to prove beneficial for all the membership. CompTrust AGC MCIC ended the 2009 year with a loss ratio at 07/31/2010 of just over 30 percent.  CompTrust AGC MCIC ended 2009 with 69 percent of their membership having $0 paid claims for the year.  This is quite a feat in the construction industry.  In addition, another 23 percent of the membership had less than 50 percent loss ratio.

I would like to commend the members of CompTrust for proving that construction, though dangerous work, can be done in a safe and conscientious manner.  As a result of yet another great year, the Directors of CompTrust AGC MCIC have approved a dividend of $1,250,000 for the 2009 year.  This brings total dividends distributed back to the membership to more than $26,451,598 since 1993.  Dividend checks were handed out at the AGC Annual Convention in Hilton Head, SC.   For those participants who were not able to attend the convention, dividend checks were placed in the mail.

The Georgia Branch, AGC formed CompTrust AGC of Georgia in 1982 and it was the longest continuously active group self-insurance fund in the State of Georgia.  The membership of the Fund voted to convert CompTrust AGC of Georgia into a mutual captive insurance company as of January 1, 2008.  The AGC’s new insurance provider is CompTrust AGC Mutual Captive Insurance Company or abbreviated to CompTrust AGC MCIC.

CompTrust AGC MCIC carried forward all assets and liabilities from CompTrustAGC of Georgia.  The purpose of the conversion was to remove joint and several liability going forward and to open up the opportunity to add future services to the AGC membership.   In fact, we can now offer other states coverage for those contractors working outside the state of Georgia.  CompTrust AGC MCIC is covered by the Georgia Insurers Insolvency Pool, so there is now greater security for all members.  The conversion was seamless to the membership and the new entity continues to be owned and ultimately controlled by the participating membership.

As always, the CompTrust AGC MCIC Board of Directors, the staff of the Georgia Branch, AGC and the staff of Affinity Service Group are here to serve you and the needs of the commercial construction industry in Georgia. If you have any questions, please contact the Georgia Branch, AGC at (678) 298-4100 or Affinity Service Group at (678) 298-1880.