Masonry Magazine January 1974 Page. 33
MCAA Insurance Dividend Plan on Target
Three quarters of the way through the first year of MCAA's Workmen's Compensation, Liability and Property Group Insurance Plan, member participation is right up to the optimistic goals originally set for it.
CNA/Insurance, prominent nationwide underwriting carrier of the MCAA Program, advises that over 100 mason contractor member firms have enrolled through the end of 1973. This is certainly strong testimony to the advantage in pooling association buying power, especially considering that existing policies are usually compared before they expire rather than reviewed mid-term. Barring something flagrantly wrong or a particular problem with the current carrier, no effort is being made to disturb or cancel insurance prior to the normal anniversary date.
At last count, 67% of those members who have been furnished with a comparative quotation have found sufficient incentive to join MCAA/CNA; this figure, already very favorable, is expected to increase as the program gains momentum and dividends earned are distributed. Recent claim cost figures look good.
HOW TO APPLY FOR QUOTATION
The first step toward securing such a thoughtful comparison of coverage, limits, services and premium cost involves identification of your current business insurance broker or agent. Whenever possible, the program is marketed through that same individual or firm, who is then called upon by CNA/Insurance to explain in detail just how the plan works to provide (in most cases, broader) protection by using an innovative Safety Group Dividend approach not individually available.
If you have not yet been contacted about the Association's plan and would like to see what it has to offer you specifically, we encourage you to ask your agent for a quotation. Any further questions you or he may have will be given prompt attention by CNA/Insurance and/or MCAA's insurance consultant, Walter Derk. Either may be contacted direct if you wish or through MCAA Headquarters.
AT CONVENTION AND SHOW
Representatives of CNA and our consultants will be on hand throughout the Las Vegas Convention & Trade Show to provide additional information, answer questions, and, in general, be of assistance in every way possible.
Members are urged to avail themselves of this splendid opportunity to secure informal personal counselling directly from some of the most experienced and capable insurance men in the country. These are people accustomed to problem solving, interested in your point of view and experienced in insuring construction risks.
masonry January, 1974
O.S.H.A. ADVICE AND ASSISTANCE
One area in which they may be of immediate practical assistance to participating members is the Occupational Safety and Health Act. This legislation affects all business operations, of course, but has special application to construction operations, scaffolding, hoists, etc.
By virtue of personal work with enforcement officials nationwide and a first-hand understanding of the ever-changing government standards, it is more than likely that they can help you to comply, as well as offer advice regarding any appeal or variance procedures available. CNA/Insurance is particularly skilled in field, one reason why they were selected to underwrite and service the MCAA Program.
THE DIVIDEND OUTLOOK
As most members already know, an outstanding characteristic of our program is that in terms of premium dollars it is a one way street... going down:
First, the state approved standard manual rates applied to appropriate classifications of work.
Second, the individual firms own experience modification is applied based upon its own premium-loss record; its identity is retained.
Third, the stock-company Premium Discount (permitted in most states) is deducted in advance.
Fourth, the resultant premium is payable under a broad range of installment and interim statement options without penalty or interest charges.
Fifth, that figure represents the Guaranteed Cost rate you pay. Only an across-the-board mandatory benefit/rate increase passed by the state legislature can develop an increase midterm. But it can go down.
The MCAA/CNA program has an accounting date of May 1st for premium-loss comparison purposes, six months after the November 1st common expiration date.
KEEPING UP WITH INSURANCE OVERHEAD
As most members know from prior bulletins and discussions, our consultants are particularly attuned to pending Workmen's Compensation Reforms and able to quickly report to participating members on insurance overhead expenses which need to be built into your contract cost.
Since these benefit increases being considered and passed by the respective state legislatures are significant, it will be most advantageous to be aware of these changes as contracts are bid, particularly those projects which will extend over some length of time.
This can be a relatively subtle but most meaningful advantage of MCAA membership and participation in the Dividend Plan.
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