March 21, 2018

The FCBI Fund Celebrates 40 Years of Protecting Florida Workers

West Palm Beach, FL – The Florida Citrus, Business & Industries Fund is celebrating 40 years of providing workers’ compensation products to protect Florida workers. FCBI currently has 6,500 member policyholders across the state and has built a strong reputation for helping small businesses and their employees who get injured on the job.

“In our 40 years, FCBI has provided support for small businesses from Pensacola to Jacksonville to Miami who form the backbone of Florida’s economy,” said Debra Cerre-Ruedisili, CEO of the Florida Citrus, Business & Industries Fund. “I am confident the same tenacity and dedication that developed the fund will drive its continued success and unwavering commitment to Florida businesses and their workers.”

FCBI began its operations as a group self-insurance fund back in 1977, focusing entirely on providing coverage to the citrus industry. Today, FCBI is a diversified fund with more than $102 million in assets that partners with retailers, construction firms, artisan contractors and service industry companies.

“FCBI has always focused on serving small businesses that are the heartbeat of Florida,” said Dan Richey, president of Riverfront Packing. “They are a Florida-grown, Florida-focused company, and they deeply care about this state, its people and its economic health.”

As a mutually-owned fund governed by trustees who are member policyholders, FCBI has been able to operate more efficiently and cost-effectively. The fund has been paying dividends to its policyholder partners, totaling $28 million since 2006, and nearly $3.9 million just last fiscal year.

“The business operations of the FCBI Fund stand solid on the strong foundation built by our founders and we move to the next 40 years with great excitement and anticipation of broadening our reach while we continue to protect individuals in the work place throughout the state of Florida,” said Gap Kovach, Chairman of the FCBI Board.

FCBI’s success is also reliant on well-connected statewide network of licensed and independent insurance agents. The Fund currently has over 500 active agencies supporting our program and submitting business to the fund. In November, FCBI will be hosting anniversary celebrations with partner agencies to thank them for making the Fund so successful.

Source: FCBI

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