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Group Insurance Savings and Opportunities
Added benefits for qualifying State Fund policyholders
You may be eligible for some great savings. As a VBE member insured with State Fund, you may qualify for the option of converting your current policy to a group policy for added benefits and further reduced premiums. Group membership advantages include:
Group Discount. As a group member, you automatically qualify for the 6 percent group discount on your workers' compensation policy.
These membership advantages apply in addition to your other State Fund benefits, such as:
- Claims Fee Credit. Employers whose State Fund policies have a base premium from $1,000 to $24,999 on the renewal year can receive a 10 percent Claims-Free Credit. This credit is applied automatically upon renewal to qualifying policies that meet the required premium, coverage, and indemnity criteria.
- Expert Claims Handling and Medical Management. These services can lower your claims costs even further. As a State Fund policyholder, you benefit from our Medical Provider Network, pharmaceutical and medical bill review, toll-free Claims Reporting Center, and Return to Work (RTW) assistance.
- Loss Control Services. A good safety record is the single best way to control your workers' compensation costs. State Fund and VBE work closely with you to offer a variety of loss control services, materials, safety signs, posters, detailed loss control reports and surveys. VBE also offers safety seminars designed with the construction industry in mind.
Choose a group, and apply for membership.* To expedite your group selection and membership application:
For Brokered policies, please contact your Broker for assistance
For Direct policies, please call our Customer Service Center at (877) 405-4545.
Then you can soon be on your way to more cost-effective coverage for your business.
For our group insurance program, your policy must have a qualifying loss ratio and required experience modification. In addition, you may convert your policy only on its anniversary rating date with State Fund. (Your group or trade association may offer the non-concurrent anniversary rating date option, in which you may choose to retain you policy's anniversary rating date or assume that of the association. Please check with the group or association for this benefit. If you chance the policy's anniversary rating date, there may be an impact on your policy's experience modification and rates).
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