What is the IFBOA Workers Compensation Safety Group Program?

Current IFBOA members are eligible to participate in a group workers compensation program underwritten by QBE. The workers compensation losses are pooled as a group and give insureds potential to earn a Good Experience Return. IFBOA developed this program as a member benefit which provides comprehensive coverage and competitive pricing.

What is a Good Experience Return (GER)?

Workers compensation premiums and losses are pooled as a group for all IFBOA members insured in the program. All remaining premiums not used for payment of the group's claims and insurer overhead costs are returned to IFBOA members participating as insureds in the program. The potential profit from the program is called a Good Experience Return (GER).

If losses are high will a business owe money to the WC Program?

No, workers compensation insurance policies in this program are rated on a guaranteed-cost basis. If losses are high for the pool during a current policy year, then there is a possibility that there will be no GER earned or payable to the insureds for that year. The insured will not owe more than their annual workers compensation premium with the exception of annual policy audits based on remuneration.

What amount can insureds expect to receive in the form of a GER?

A GER cannot be guaranteed; however IFBOA members participating in the program are gaining the ability to earn a return on their workers compensation insurance that otherwise would not exist.

My business is not a FBO, why would we want to be an IFBOA member?

IFBOA is an association which represents all aviation businesses. Membership in IFBOA affords many benefits related to safety resources and training materials including discounted online safety training. QBE can underwrite a variety of aviation businesses into their program and provide standard rates based on an insured's experience modification. The plan is not available for businesses in the following monopolistic states: North Dakota, Ohio, Washington and Wyoming.