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MICU Workers’ Compensation Fund

Offers cost saving and quality workers’ compensation coverage to 16 of the 25 MICU Members and one MICU Affiliate Member.

Over the past two years, three new MICU Institutions have enrolled in the MICU Workers’ Compensation Fund – Davenport University, Finlandia University, and Siena Heights University – adding over $65.5 million in payroll volume.  This brings the total MICU Fund Members’ collective estimated payroll volume for the 2015 year to nearly a half a billion dollars.

Since its inception in 1983, the MICU Workers’ Compensation Fund has returned over $23.2 million in distributions back to its Members.  In 2015, the Fund is prepped to distribute another $773,969 to its Members, pending State approval.

The MICU Workers’ Compensation Fund saves its Members on average 64.5% in premiums.

In a 10-year Benchmark Report (1/1/2005-12/31/2014) published by Midwest Employers Casualty Company, the MICU Workers’ Compensation Fund performed within the Best Practice measures.  In other words, according to Midwest, the MICU Fund operates in the 99th percentile compared to similar workers’ compensation funds.

The MICU Worker’s Compensation Fund is overseen by a smart and engaged Board of Trustees made up of mostly Chief Financial Officers at Fund Member colleges and universities.  It is managed on a daily basis by a Fund Administrator with close to 20 years of experience with the MICU Fund. It is supported by a team of service agents and financial institutions that understands the integrity and performance of the MICU Fund and works diligently to meet its needs.    

Contact us for more information.