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, 25 years later, 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.
- 52 contractors banded together
- $450,000 in premium
- Exceeded $1 million in premium
- Hired the first employee
- Leased office space
- Paid 1st dividend
- Stu Thompson, Funds Manager, joins TBG
- Exceeded $100 million in payroll
- $12 million in premium
- Purchased office space
- First Loss Control rep is hired
- Premium exceeded $30 million for the first time
- Reached our pre-recession premium high of $36.8 million
- 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
- Great recession premium low of $21.1 million
- Member distribution payable low-point of $308,000
- Premiums exceed $40 million for the first time
- Payrolls exceed $1 billion for the first time
- Premiums hit an all-time high of almost $47 million
- Member distribution payable reaches an all-time high of $27.7 million
- TBG Board approves the payment of the first dividend since 2007
- The dividend payment is made to coincide with TBG’s 20th Anniversary date of May 12, 2017
- Loss Control becomes Safety Services
- 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
- Held the first Safety Summit where 11 construction funds throughout the United States attended
- 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
- Paid dividends for the 5th straight year
- Paid the largest dividend to date totaling $5.5 million