Frequently Asked Questions
If you are a company working in the non-residential construction industry, there is no other insurance company or fund that has more knowledge or experience of the industry in this state. When you invest in CompTrustAGC, you invest in the very industry in which you work.
How do I pay my premium?
25% of the premium is collected for the down payment, then the remaining premium is due in equal payments each month for the remainder of the calendar year.
Does CompTrustAGC have an A.M. Best Rating?
Yes, CompTrustAGC is currently rated an A- and the financial size category is VI. We are listed as Alabama Branch of AGC of America, Inc. SIF and our A.M. Best number is 055028.
Is there a minimum premium?
CompTrustAGC offers an Emerging Contractor Program for new or emerging contractors who may not have qualified under the past minimum premium threshold. Those who qualify for this program may be subject to additional underwriting.
Can a deductible plan reduce my premium?
Contractors may better manage their insurance costs while potentially positively impacting their EMR with one of CompTrustAGC's deductible plans. With deductibles ranging from $5,000 to $500,000 per claim, those who choose a deductible plan receive a premium credit accordingly. Deductible plans are subject to additional underwriting review.
Who handles my claims?
CompTrustAGC partners with Millennium Risk Managers to provide claims administration. With our experience in managing contractors' claims and our partnership with AlaMed, one of the state's largest workers' compensation PPO networks, CompTrustAGC and Millennium Risk Managers are able to control claims costs while providing best-in-class claims service with a focus on each claims’ impact on the contractor's EMR.
Does CompTrustAGC provide out of state coverage?
Yes, but this coverage is subject to a separate underwriting process.
What are the services CompTrustAGC provides?
CompTrustAGC employs four full-time consultants who serve as a resource to each fund member through periodic office and job site visits. In addition to the services provided by our loss control consultants, CompTrustAGC offers fund members both in-house and outsourced training upon request at reduced rates.
How does the audit process work?
CompTrustAGC partners with Wilkinson Insurance Services to perform annual audits. Payroll audits are performed in the first quarter of each calendar year, and are designed to obtain all information in an efficient manner.
Can I report or adjust payroll during a coverage period?
Premium is billed on estimated annual payrolls. However, there are multiple opportunities to adjust payroll throughout the coverage period.
When I join the Fund, do I become a member of AGC?
Yes. Alabama statute requires all members of self-insured funds to be a dues-paying member of the sponsoring association in addition to paying workers’ compensation premium.
What are the benefits to joining AGC?
AGC is the oldest and largest trade association representing all companies serving the non-residential construction industry through membership discounts, networking opportunities, professional development and safety training, and legislative representation at state, local, and national levels.
What is 'joint and several liability'?
As with all self-insured products and most captive programs, each fund or captive member is jointly and severally liable for one another and the Fund. With its A.M. Best Rating, sound investment practices, disciplined underwriting, and superior claims management, CompTrustAGC is positioned to handle economic and performance downturns like few others.
How do I obtain a quote?
Ask your agent for a quote or contact us directly if you do not have an agent. We require the submission be on a completed Acord application (which we can provide) along with 5 years loss runs (if applicable). You may fax, mail, or email your submission to the following:
CompTrustAGC | Attn: Tammy King, P.O. Box 102066, Irondale, Alabama, 35210Fax: 205-451-1498 | Email: Tammyk@alagc.or