Michigan Restaurant & Lodging Fund - Workers' Compensation Program
Members participating in the Michigan Restaurant & Lodging Fund (MRL Fund) have enjoyed a 48% average profit return on their workers' compensation coverage. Group plans offer the same protection as an insurance company, but more efficiently, providing an opportunity for companies within a particular industry to band together to save.
How Does the MRL Fund Work? ✔️Fund members pay premiums into the Fund. ✔️Premiums are determined based on the payroll and loss experience of members. ✔️The Fund invests premiums until they are needed. ✔️Approximately 25% of premiums go towards operating expenses and the purchase of excess insurance. ✔️The remainder of collected premiums are dedicated to member claims. ✔️Premium that is not used to pay fund expenses or claims is returned back to the members, along with any investment income earned. Not-for-Profit
The MRL Fund is a not-for-profit organization owned and operated by its members. As a result, premium dollars not used to pay administrative costs and claims, or not reserved for potential claims, are returned to the members in the form of premium credits along with earned interest. Members have received a total of more than $69 million in premium credits since the fund’s inception in 1992 |
If you have any questions on any of the MRLA Endorsed Programs, contact Pam at the MRLA at 800-968-9668 or psawatzki@mrla.org
