The MASB-SEG Property/Casualty Pool and the SEG Self-Insurer Workers’ Compensation Fund both recently declared significant member returns. Combined, the two SET SEG entities will return $12 million to eligible members during the 2009-2010 coverage year.

The Pool is returning $5 million in surplus funds to eligible members after they renew their coverage and submit their annual premium contribution, while the Fund is returning $7 million of accumulated assets to its members in the form of reduced premiums. In accordance with its bylaws, the Fund will credit one-fourth of each eligible district’s share of the premium reduction to each of its quarterly invoices. Members become eligible for the premium reduction after three years of participation in the Fund.

This is the 18th consecutive year the Pool has returned surplus or dividends to members, and the 29th for the Fund. Financial returns such as these are enabled by conservative investment strategies and the strong financial health of the organizations.

School districts and educational organizations that wish to learn more about the MASB-SEG Property/Casualty Pool or the SEG Self-Insurer Workers’ Compensation Fund should contact their SET SEG Account Executive by calling (800) 292-5421.

SET SEG is a nonprofit provider of complete insurance services to Michigan school districts and educational organizations. SET SEG provides employee benefits, property/casualty and/or workers compensation insurance to more than 550 educational organizations in the state. The MASB-SEG Property/Casualty Pool is a nonprofit, self-insured pool that provides property and liability coverage to 463 member school districts throughout Michigan. The SEG Self-Insurer Workers’ Compensation Fund is a non-profit, self-insured fund that provides workers’ compensation coverage to 474 member school districts throughout Michigan.