Built for Builders and Contractors
Builders and contractors have unique needs when it comes to their business insurance. The HomeBuilders Work Comp Fund understands this, which is in part why we were formed in the first place. Created in 1979, the fund began in response to the turmoil of the commercial insurance marketplace. Insurance carriers were exiting Louisiana, and builders were faced with rising insurance costs, poor service and mounting problems. The answer was the HomeBuilders Work Comp Fund - a workers' compensation program built specifically for the construction industry.Built by Builders and Contractors
The program was built by a group of visionary builders with an eye towards longevity, affordability and financial stability. These three tenets remain as the foundation for the Fund today.Longevity - While literally hundreds of insurance companies have come and gone over the past 27 years in Louisiana, this program has held firm to its original mission of always being available for the construction industry. We are long term.
Affordability - Workers' comp rates may change over time, but contractors need to know they will not experience wild fluctuations in their overall insurance pricing. While the Fund has implemented modest rate increases over the years, we have also lowered rates on a number of occasions. We are competitively priced.
Financial Stability - The Fund is responsible for collecting an adequate amount of premiums each and every policy year to pay for all incurred claims, reinsurance and administrative expenses. Any surplus dollars available at the end of each year are ultimately returned to the members who paid the premiums in the first place. Since 1991 alone, more than $27 Million in dividends has been returned to fund participants. We are financially sound.
