AASCIF - july-august-september04 From the AASCIF president

Our association has grown in numbers, and our presence in the workers’ compensation arena has grown in impact.

In the United States alone, our members insure nearly 1.5 million businesses with more than $17 billion in premium. More than an estimated 16 million working men and women count on us as a safety net in case they’re injured in the workplace.

In Canada, our members serve more than a million Canadian businesses, financed through more than $7 billion in total premium, and providing protection for more than 12.5 million working people. Our Canadian members represent their nation’s entire workers’ compensation system.

In the United States, our members insure more than 35 percent of the estimated nearly $50 billion insured market for workers’ compensation—a market that includes also about $1.8 billion in the standalone residual market facilities.

We have big responsibilities that come with this important stake in all of workers’ compensation and some big opportunities. Those responsibilities keep us on the hunt for how to do things better to survive and succeed. And, they make our voice an essential one on issues affecting workers’ compensation.

In the United States, issues at the federal level are increasingly affecting workers’ compensation. AASCIF hosted a meeting of U.S. fund representatives in Denver recently for a one-day briefing on the Terrorism Risk Insurance Act, the issues surrounding its expiration, and—hopefully—its legislated extension. TRIP program director Jeff Bragg, Treasury, provided key insights on this tough issue, and I think we offered him some as well.

One of them was that AASCIF—an organization whose members are dedicated to tackling the very toughest issues of workers’ compensation—has not been able to (yet, at least) come up with a proposed permanent solution to the issue of insuring for terrorism risk. Which means that extension of TRIA is essential.

AASCIF members attending our Denver TRIA meeting emphasized the need for more systematic, higher profile, collective involvement on key federal issues, like the issue of extension of TRIA. That’s something we’ve swung into action on for the TRIA issue already. Never underestimate the resourcefulness and responsiveness of our members in getting things moving quickly! You don’t want to be left behind on this any more than you’d want to miss out on the latest and best innovations in operations.

So, U.S. fund members and associates, please join us with your voices to your congressional delegations. Encourage those you serve to do so as well. They’re counting on you.

AASCIF’s leadership group will have more to talk about on how to serve the longer-term needs of our members to elevate and give collective voice to our concerns at the national level. That is an important discussion soon to occur and we’ll want to hear from you on that one as well. In the meantime, we’ll act resourcefully for the most effective collective effort we can muster.