Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Workers-comp company disburses 1 M to members
RANCHO CUCAMONGA, Calif. (5/15/09)--C-U First Ltd., a credit union workers' compensation program, is providing a safe haven of sorts as workers' compensation rates climb in California. The program starts its sixth underwriting year after returning an additional $1 million to its policyholders in 2008. For the first two policy terms, the program returned 33% of premium to date. In addition to policyholder returns, program members also experienced a 64% decrease in the premium rate since the program's inception in 2004. The C-U First Insurance Program chooses the loss control specialist and third-party claims administrator, allowing members to manage and control their workers' compensation losses. Artex Risk Solutions administers the captive and domicile management. Gallagher Bassett provides claims management and loss control services. Claims and loss control services are critical, and the program's average loss ratio is 19.5%, according to the California Credit Union League. "Discover Re, a Travelers Company, provides the insurance policies and the excess re-insurance portion of the program," said Sylvia Fath, league senior vice president of business services. Fath noted Travelers is highly rated by several national rating organizations including A.M. Best Co. "At this critical time, with the viability of insurance companies in question, it's beneficial for C-U First to be associated with such a highly rated organization," Fath said.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
2 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
3 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
5 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
7 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
7 hours ago