IFBOA Workers Compensation Insurance Program Announces Inaugural Year Good Experience Return of 27.5%

November 8, 2016

IFBOA Workers Compensation Insurance Program Announces Inaugural Year Good Experience Return of 27.5% 

Washington, DC, November 8, 2016 - The Independent Fixed Base Operators Association (IFBOA) and QBE Aviation are proud to announce the IFBOA Workers Compensation Safety Group Program's inaugural year, 2011, has closed with a final Good Experience Return (GER) of 27.5%. 

The Program allows for five years of loss development before making the final calculation of a Program Year's GER. While the program years 2012-2015, continue to develop, those years look to be on track for over 20% returns. 

"We are delighted by the 2011 results, stated Tim Obitts, IFBOA's Executive Director. "The centerpiece of our program is the belief that safety performance should be rewarded by substantial savings. Clearly, a 2011 GER of 27.5 percent demonstrates the IFBOA membership's ongoing commitment to operating businesses that place safety as their highest responsibility." 

"IFBOA's 2011 final calculation quantifies the true value proposition of the IFBOA Workers Compensation Safety Group Program, stated QBE's Senior Vice President/Head of Aviation, Steve Allen. "QBE and IFBOA are celebrating a wonderful milestone with the closing of the first Program Year. The 2011 result is phenomenal and bodes well for the years following, which appear to be performing equally well. QBE appreciates the opportunity to reward the Program participants for operating safely and giving back 27.5% of their premium goes a long way in continuing to promote safety in aviation work environments."

With over 700 current participants, the Program continues to grow. Contributing to this growth is the strategic alliance between IFBOA and the National Air Transportation Association (NATA). The IFBOA Workers Compensation Safety Group Program is open to NATA's membership. NATA members in good standing may ask their broker for a quote from QBE for IFBOA's Program in addition to their organization's current insurance program. 

The QBE Underwriting Team contact information: 

Brian Neal, Vice President/Head of AWC 

Michael Lumpkin, AVP/AWC 

Jim Embry, Senior Underwriter 

John Carroll, Senior Underwriter