WORKERS' COMPENSATION INSURANCE
Ask yourself this: "How many of my current insurance policies has returned surplus premium?"
The LRA SIF has returned surplus premium, in the form of dividends, the past 27 consecutive years. To date, the LRA SIF has returned to our members nearly $104 million in dividends and safety awards. In its final meeting of 2014, the LRA SIF Trustees declared a $2.2 million dividend to be returned in April of 2015 to eligible participants.
News: The LRA SIF has once again received approval from the Louisiana Department of Insurance to lower its rates effective January 1, 2015. Read more.
For the past four years, the LRA SIF has averaged returning approximately 28 percent of premium in annual dividends to eligible members who participated in all fund years being returned.
The LRA SIF is the standard-bearer in quality service, too! No other Louisiana self-insured insurance program has paid its members back more in dividends – it's not even close!
We bring you superior customer service and coverage that extends across the state. Backed by strong financial reserves and the experience that comes from doing business for more than 30 years, the LRA SIF serves more than 2,500 member locations representing more than $16.7 million in annualized premium and more than $765 million in insured payrolls.
If you are interested in a free quote, give us a call. If you purchase your current workers' comp through an agent, we have attractive commissions for them, too!
If you participated in the past but left for less expensive rates, look at us again. If you return, there may be potential for future dividend consideration for the past period(s) in which you participated.
If you have any questions regarding the LRA's workers' comp, call our member services staff in Metairie at (504) 454-2277 or contact the LRA Regional Director in your area.
SAFETY DIVIDEND CRITERIA
In order to be eligible for the safety dividend and receive up to an additional 5% of your premium returned as a dividend, you must meet all of the following five criteria:
Loss Ratio must not exceed 50%. The loss ratio will be calculated after all final premium audits are completed and may not exceed 50% of your audited annual premium.
Written company safety program. A copy of your written company safety program must be forwarded and remain on file with the Loss Prevention Department by the end of the fund year. For a sample safety policy and/or assistance developing a written company safety policy, please contact our Loss Prevention Department at (504) 454-2277.
Attendance at Annual Safety Seminar or Webinar. A representative from the member must attend at least one Safety Seminar or webinar conducted by the Loss Prevention Department annually. To access the webinar, click here.
100% Compliance with the Second Injury Board Knowledge Fund Questionnaire. A Louisiana Office of Workers' Compensation post-offer medical history questionnaire must be completed and on file for ALL employees. Medical questionnaires should be periodically updated by employees. Click here for a copy of the LA OWCA Second Injury Board Knowledge Questionnaire and for information on its implementation, please contact our Loss Prevention Department at (504) 454-2277.
100% Compliance with Post-Accident Drug and Alcohol Testing. ALL employees must sign a post-accident drug and alcohol testing policy and if injured while on the job, must be required to submit to a drug and alcohol test following any significant workplace injury or illness, even if medical treatment is denied. For a sample Drug and Alcohol Testing Policy, medical and post-accident drug/alcohol testing refusal forms, please contact our Loss Prevention Department at (504) 454-2277.
Personnel Phone Numbers:
(504) 455-6815 Fax
LRA SIF COO
LRA SIF VP of Member Services