MEADOWBROOK DEALS OUT $4 MILLION:

Meadowbrook/TPA Associates, a Massachusetts’ third party administrator of self-insured workers’ compensation programs, is distributing $4,023,874 in dividends to 520 businesses who are members of the self-insured groups the company manages. The news is a welcome respite from the usual litany of problems companies have with their workers’ comp coverage. It is also another indication of the monetary advantages that can be achieved by employers who choose to obtain their coverage through an alternative market solution. Meadowbrook manages a wide variety of groups in Massachusetts, specializing in those made up of employers in similar industries who pool their resources to insure one another’s workers’ compensation exposure as an alternative to traditional insurance or the state-sponsored workers’ compensation pool. The members own the group and earn 100 percent of the underwriting profits and investment income. Each group contracts with Meadowbrook/TPA to provide program management and a variety of operational services. All of the groups have been in operation since the early 1990s, and have a strong record of performance for their members. Self-insurance is an effective way for quality employers to reduce their workers’ compensation costs and take control of their insurance program. Through hard and soft insurance markets, the self-insurance groups have delivered value to their membership. With the significant changes in the Massachusetts workers’ compensation market, interest in self-insurance has never been greater.

Topics Workers' Compensation Massachusetts