Our History
In 1997, a group of construction companies decided to do something about the out-of-control costs of workers’ comp insurance. The plan was simple: join together to create a self-insured workers’ comp fund based on the principle that if responsible people acted responsibly – everyone would win. Today that idea has grown to become the premier self-insured fund in Minnesota, with hundreds of members from the construction trades. The fund has weathered the ups and downs in the construction industry through strong leadership and the value of its member partnerships.
- We build reliable relationships with healthcare professionals.
- We are passionate about the construction trades.
- We embrace innovation.
- We are compassionate champions of injured workers.
- We are committed to earning our partner’s trust.
- We are zealous about job site safety.
1997
- 52 contractors banded together
- $450,000 in premium
2001
- Exceeded $1 million in premium
- Hired the first employee
- Leased office space
2002
- Paid 1st dividend
- Stu Thompson, Funds Manager, joins TBG
2003
- Exceeded $100 million in payroll
- $12 million in premium
- Purchased office space
- First Loss Control rep is hired
2006
- Premium exceeded $30 million for the first time
- Reached our pre-recession premium high of $36.8 million
2007
- Purchased the 2919 Eagandale Blvd building in Eagan, MN
- Created Safety Education classroom and demonstration area
- Paid last pre-recession dividend – total dividends paid $7.8 million
- Stu Thompson becomes CEO
2010
- Great recession premium low of $21.1 million
2011
- Member distribution payable low-point of $308,000
2014
- Premiums exceed $40 million for the first time
2015
- Payrolls exceed $1 billion for the first time
- Premiums hit an all-time high of almost $47 million
2016
- Member distribution payable reaches an all-time high of $27.7 million
- TBG Board approves the payment of the first dividend since 2007
2017
- The dividend payment is made to coincide with TBG’s 20th Anniversary date of May 12, 2017
- Loss Control becomes Safety Services
2018
- TBG Education Foundation is formed to encourage young women and men to consider the trades as a career
- Developed the Cross Border program with Sentry Insurance to cover Member’s out of state exposures
2019
- Held the first Safety Summit where 11 construction funds throughout the United States attended
2020
- Developed TBG IC, Inc. as a Vermont Captive Insurance company as a protection
- TBG introduces the formation of a Vermont domiciled captive – The Builders Group IC, Inc. This captive helps protect the Membership against an assessment if a defcit occurs in a fund year.
- Formed TBG Safety Services Association to ensure Members are provided with the latest technology and safety programs
2021
- Paid dividends for the 5th straight year
- Paid the largest dividend to date, totaling $5.6 million
- Premium of $48.7 million
- Payrolls reach $1.48 billion
- Dividend of $5.6 million (Paid over $5 million in dividends for the first time)
- $78.8 million in Member Distribution Payable (MDP)
- 4,200 Member Employees trained
2022
- Celebrated 25 years in business
- Took 1st place in Safety National’s annual safety contest, earning a $10,000 grant
- Remodeled our building, expanding classrooms, parking lot, and technology
- $1.59 billion in payrolls
- $77.7 million in MDP
- $50.1 million in premium (premium reached a new high of $50 million)
- 4350 Member employees trained
2023
- $1.667 billion in payroll
- Reached 20 year of transferrin claim liabilities – 2000 – 2020
- Hired a bilingual safety services rep
- 7572 Member employees trained
- $49.58 million in premium
- $77.1 million in MDP
- Hired Jon Schindel as COO of 7-31-2024