LANSING, Mich., Nov. 5, 2012 /PRNewswire/ -- Accident Fund Insurance Company of America, which has been headquartered in Lansing, Mich. since its inception in 1912, is celebrating 100 years of returning injured employees to wellness and getting them back on the job.
"Our company has grown and evolved immensely over the last century," Liz Haar, president and CEO of Accident Fund Holdings, Inc., said. "From our start as the State of Michigan's workers' compensation agency in 1912 to the national company we are today we are proud to say we have always remained dedicated to helping employers create safer work environments, protecting their organizations from unpredictable and often significant costs related to workplace injuries and helping injured workers return to as normal a life as possible as quickly as possible."
In 1911, a federal act was passed by Congress and signed into law by President William Howard Taft that allowed every state to create an "Accident Fund" to provide a stable source of insurance coverage for all employers. Michigan became the second state in the country, behind Washington, to create an entity known as an "Accident Fund" to guarantee a stable source of insurance coverage. On September 1, 1912, the Michigan State Accident Fund was authorized to begin writing workers' compensation insurance in Michigan. On November 25, 1912, the Accident Fund of Michigan received its first policy applications, from the agencies of George Moeke and Son in Zeeland and the Arnold J. Hammer Agency in Detroit.
Accident Fund served as the state's workers' compensation agency for 82 years before it was privatized in 1994 when Governor John Engler signed legislation authorizing the privatization of the Accident Fund. At that time, Accident Fund was purchased by Blue Cross Blue Shield of Michigan (BCBSM) and it became known as Accident Fund Insurance Company in 1995. Accident Fund sold workers' compensation insurance in Michigan alone until 2000 when the company launched a national expansion. In 2009, Accident Fund Holdings, Inc. was created to align the company's four insurance operating units – Accident Fund Insurance Company of America, in Lansing, Mich.; CompWest Insurance Company, in San Francisco, Calif.; Third Coast Insurance Company, in Chicago, Ill.; and United Heartland Insurance Company, in New Berlin, Wisc. The company is now licensed to sell workers' compensation insurance in 48 states and the District of Columbia.
Over the course of the last century the company has occupied a few different locations in Lansing, with its most recent move being to the renovated Lansing Board of Water & Light Ottawa Street Power Station located on Lansing's downtown riverfront.
"We are very proud to be part of Lansing's continued economic resurgence and our new headquarters is the perfect symbol for our organization," Haar said. "We are now located in a renovated power plant that blends unique historical features with the capabilities of a modern and open workspace. Our headquarters is a perfect reminder that both a historical view and a fresh opportunistic look to the future are both important to our organization."
Accident Fund Insurance Company of America
Founded in 1912 and headquartered in Lansing, Mich., Accident Fund Insurance Company of America is a licensed workers' compensation insurer in 48 states and the District of Columbia. Accident Fund is rated "A-" (Excellent) by A.M. Best and is a wholly owned subsidiary of Accident Fund Holdings, Inc., the 13th largest workers' compensation insurer in the United States. For more information, visit Accident Fund's website at www.accidentfund.com.
SOURCE Accident Fund Insurance Company of America