The Tennessee Workers’ Compensation Insurance Plan (Plan) was created under Tennessee law to provide a mechanism so that employers in Tennessee who could not obtains workers’ compensation insurance through ordinary methods could obtain such coverage by participating in a state sponsored assigned risk pool among insurers. Under the Plan a surplus occurs when the amount collected from participating employers for a plan year exceed the losses and expenses attributable to that plan year. Employers as a whole are entitled to sixty percent (60%) of the available surplus trust fund (the “Employer’s Share”). AON Risk Services of Missouri, Inc., the Plan Administrator has determined that there is surplus in plan years 2001 and 2002 to which participating employers are entitled to a pro-rata refund of the Employer’s Share based upon the amount of premium each individual employer paid in comparison to the total collected on all Plan policies issued during the same calendar year. For example, if an employer paid $100,000 in premium during a calendar year and the total premium for that year was $10,000,000, then that employer would be entitled to one percent (1%) of the surplus available to all employers for that year. According to the Plan an employer will not be entitled to a refund if their allocated distribution does not exceed $20.00.
Updated as of April 9, 2010:
The Employers’ Share of the surplus trust fund available for current distributions is:
For plan year 2001: $464,118.16
For plan year 2002: $659,211.14
Please note that the initial distribution of the surplus trust fund was made in December of 2006. Supplemental distributions were made in 2008 and 2009. The distribution being made in 2010 is the final distribution for the 2001 plan year. A final distribution for the 2002 plan year will be made in 2011. All distributions are subject to the $20.00 refund threshold.
It is imperative that you keep your mailing address current with the Servicing Agent and notify the Servicing Agent listed below of any change of address to ensure that you will receive your surplus distributions.
Administar Services Group, Inc.
TWCIP Servicing Agent
P.O. Box 56636
Jacksonville, FL 32241-6636
Should you have any questions, the Servicing Agent can be contacted at (866) 373-5881.
