NEW YORK, Aug. 27, 2012 /PRNewswire/ -- QBE Aviation today announced a 22-percent Good Experience Return for participants in the 2011 Independent Fixed Base Operators Association (IFBOA) workers' compensation program.
According to QBE Aviation Senior Vice President Michael Clark, IFBOA members who hold workers' compensation coverage through QBE are returned a portion of their premiums after their losses and administrative costs are paid. This is known as a Good Experience Return (GER). Those participating members will receive the first of five GER installment checks later this year.
IFBOA Executive Director John Wraga said the program focuses its underwriting on loss control and commitment to aviation safety. "I'm very pleased to be able to offer members one of the best workers' compensation programs in the industry," he said. "This is certainly a benefit our members can appreciate and it more than pays for their membership."
Wraga said savings are unusual, noting that most workers' compensation insurance professionals estimate rates will likely increase soon.
"We are excited to be returning these funds," Clark said. "These members have earned this return through their commitment to safety and operational excellence. I believe this highlights our commitment to being a long-term business partner to our aviation clients."
For more information about the program, contact Wraga at 781.860.7403, or visit www.qbena.com/aviation/our-products.
QBE North America is part of QBE Insurance Group Limited, one of the top 20 insurers and reinsurers worldwide. QBE Insurance Group's 2011 results can be found at www.qbena.com. Headquartered in Sydney, Australia, QBE operates out of 52 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's.
SOURCE QBE Aviation