WORKERS’ COMPENSATION SAFETY GROUPS
Lovell administers industry-focused workers’ compensation safety groups designed to help employers control the long-term cost of workers’ compensation through disciplined program management.
A safety group is a collection of businesses operating in the same trade or industry with similar work environments, exposures, and safety challenges. By grouping similar risks together, safety groups create the opportunity for stronger underwriting discipline, improved claims outcomes, and meaningful dividend performance.
Lovell safety groups are fully insured and not-for-profit, allowing participating employers to benefit directly from the group’s financial performance.
Each year, the group’s premiums are used to pay claims and administrative expenses. Remaining funds are returned to participating members in the form of dividends.
Lovell currently administers 14 industry-specific workers’ compensation safety groups, serving construction, manufacturing, healthcare, transportation, municipalities, and other specialized trades.
BENEFITS OF A LOVELL SAFETY GROUP
Lovell safety group programs have returned more than $2 Billion in dividends, discounts, and premium savings to New York employers.
- Year-end cash dividends – averaging 30%, with significant reserves to enable dividend consistency.
- Upfront premium discounts – averaging 32.5%, providing immediate cash-flow savings.
- Fully insured structure – Financial commitment limited to group premium with no joint and several liability.
- Reinsurance protection – limiting the impact of any single large claim while protecting reserves.
- Integrated program management – industry-leading underwriting , proactive claims oversight, and safety services aligned to support long-term financial performance.
