7/26/2010 - Introducing MMA Insurance Services

To benefit its membership, in 1991 MMA incorporated a self-insured fund, doing business as the MMA Workers’ Compensation Group, to provide workers’ compensation and employers’ liability coverage to qualified MMA members. The MMA WCG has benefited participating employers by shielding them from the volatility of insurance pricing by providing a high quality source of workers’ compensation coverage at a competitive price.
 

The property and casualty insurance market has been in a prolonged soft pricing trough for nearly three years. Large international insurance companies as well as small regional carriers have been steadily lowering insurance premiums in their efforts to gain market share. Much of the downward pressure on insurance premiums is due to the success of self-insured funds, such as the MMA WCG.
 

While soft insurance pricing is very favorable to MMA members, the same soft pricing undermines the sustainability of the association’s self-insured group. After an extensive review of the insurance market, the MMA WCG’s management thinks that low-priced insurance coverage will remain in play for the foreseeable future and have, therefore, determined that the need for an ongoing self-insured program is no longer essential for the association’s membership. Consequently, the MMA WCG has elected to change its business model in order to better serve MMA members. Effective July 1, 2010, the MMA WCG is no longer writing any new self-insured business.
 

The MMA WCG’s board of directors determined that MMA needed an entity that could help its members navigate through the current insurance market frenzy to obtain better property and casualty insurance coverage. Therefore, a new entity, MMA Insurance Services, a wholly owned subsidiary of the MMA WCG, was created as a managing general agency (MGA) and has partnered with AmFed Companies/Companion Insurance Company to offer an extensive line of superior insurance products.
 

In addition to workers’ compensation and employers’ liability, MMA Insurance Services is able to offer a broader line of coverages, including commercial automobile, comprehensive general liability, crime, fire and allied lines, inland marine, commercial umbrella liability and commercial package policies. Through MMA Insurance Services, qualified MMA members can also obtain coverages for multi-state operations. All coverages are written with either AmFed National or AmFed Casualty or Companion Insurance Company and are A.M.Best “A” rated.
 

AmFed is the also the largest third party administrator (TPA) based in Mississippi and handles more self-insured business than any other TPA. AmFed has a well deserved reputation for aggressive claims handling. Beginning May 1, 2010, AmFed began administering the MMA WCG’s existing self-insured claims. So, instead of having your claims handled by an out-of-state operation with limited knowledge of Mississippi’s medical providers and legal venues, AmFed offers pro-active claims handling with a team of seasoned claims professionals who will investigate, adjust and close out claims in a timely manner.
 

For help with your insurance needs, please feel free to contact Renee DeRusso, sales director, (renee@mma-web.org) or Foster Welburn, director of MMA Insurance Services, (foster@mma-web.org) via e-mail or phone (601-948-1222).

Back to Articles