March 19, 2018

LA Restaurant Association Self-Insured Fund Trustees Declare $2.8 Million Dividend

Metairie, LA – The Trustees of the Louisiana Restaurant Association Self Insurer’s Fund for Workers’ Compensation (LRA SIF) recently declared a dividend of $2.8 million to eligible plan participants. The LRA SIF provides an industry-specific workers’ compensation solution for LRA members. Its Board of Trustees is comprised of fund participants who provide oversight as to the funds management and financial controls. It is a premier benefit of being a member of the LRA.

For the 29th consecutive year, the LRA SIF has returned to members almost $109 million in fund surplus and safety dividends to eligible members. This year’s dividend will include eligible participants from the fund years 2001, 2005, 2006, 2007, 2008, 2009, 2010 and 2012 to be paid in April 2017.

“Delivering the best possible workers’ compensation program for our members and their employees while keeping our focus on how to manage outcomes effectively is our number one priority,” said Stan Harris, President and CEO of the LRA Self Insurer’s Fund. “Over the past few years, our competitive rates have allowed our payroll value covered to increase by 60 percent. Our overarching goal remains to get our injured workers treated properly and back to work as quickly as possible.”

The LRA Self Insurer’s Fund was created in 1982 to provide a focused solution for the workers’ compensation needs of Louisiana’s hospitality industry and has remained the best option for LRA member’s since its inception. To be eligible for this year’s dividend, the member must be in good standing with the LRA and the LRA SIF, and have a loss ratio that is equal to or less than 70 percent of premium for the years declared as of March 2, 2017.

“We are pleased to announce a dividend for the 29th consecutive year,” added Harris. “Our members’ commitment to workplace safety paired with our fund staff’s providing best in class service with responsive and timely claims handling has resulted in this year’s dividend declaration.”

Source: Louisiana Restaurant Association

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