SAIF’s new AGC Filing approved by DCBS

SAIF recently made a filing for a new premium volume discount table that will be used for Associated General Contractors (AGC) members who are currently in the AGC Group Retro product or qualify for the AGC services group. This filing was approved by the Department of Consumer and Business Services (DCBS).

The AGC Group Retro portion of the Partnership Incentive Plan (a group retrospectively rated product) has seen inconsistent and low retro returns over the past five years, mainly due to the continuing decrease in pure premium rates. With support from AGC, this new AGC Services discount table will be utilized on a guaranteed cost plan replacing the existing group retrospectively rated plan effective October 1, 2024. This new AGC Services discount table can be used in conjunction with the AGC Oregon Group Supplemental Experience Rating Program (OGSERP), for those members that meet the AGC OGSERP underwriting criteria (Associated General Contractors - AGC (saif.com). The new premium discount table will be available for all AGC members that participate in the AGC Services even if they do not participate or qualify for the AGC OGSERP. Of note, in order to receive the new premium discount table SAIF policyholders will need to be members of AGC AND have construction class codes as their principle class code.

The new premium volume discount table is more favorable than our general premium volume discount table and is made possible primarily due to the historical ease of collecting premium from AGC members and other insurance services provided by AGC.

Please continue to encourage your AGC members to keep participating in the non-disabling reimbursement (NDR) program, especially through the close of the current retro plan (September 30, 2024), as they will still receive all NDR reimbursements back when that plan year is evaluated on June 30, 2025. As a reminder, in most circumstances participating in the non-disabling reimbursement program can also help the individual policyholder’s experience rating— especially policyholders seeking to maintain an experience rating below 1.0—and will benefit the AGC OGSERP.

A training regarding the new product and nondisabling claims reimbursements is scheduled for June 25, 2024. This FAQ document is being made available to AGC members. Register.

If you have any questions about the SAIF/AGC product, contact Lyn Zielinski-Mills, marketing and groups director, at lynzie@saif.com or 503.373.8806.