Since CompTrust is owned by its policy holders, the program is governed by a Board of Directors consisting of construction industry executives who are AGC Georgia members. The program is financially sound with assets totaling nearly $30 million. Since 1982 when the workers’ comp program was founded, CompTrust has written more than $223 million in premiums, covered over 20,285 claims with a value in excess of $147 million, and given back approximately $28 million in dividends to participating members making this an extremely affordable and valuable service.
For over 25 years, AGC Georgia has successfully operated this program, considered one of the state’s longest running self-insured workers’ compensation trust funds. Several years ago, based on participating contractor feedback and a desire to better reflect the changing marketplace, the Chapter initiated a comprehensive planning process to convert its original self-insured trust fund called CompTrustAGC of Georgia to a mutual captive. The Georgia Department of Insurance approved this conversion in 2008, and thus its new name. This conversion eliminated the joint and several liability clause and created the opportunity for out of state coverage which is especially attractive to Chapter members doing business in multiple states.
For more details about CompTrust AGC MCIC, click here