The cost and instability of the workers’ compensation marketplace was an ongoing concern in the early 1990’s. With premiums increasing every year, employers were searching for solutions. As a result, the Cherrywood Lumberman’s Association, a Group Captive Program, was created in 1994 in order to control workers’ compensation costs and allow employers to begin reaping the benefits of premium dollar investments.
EHD partners with Cherrywood as its exclusive insurance agency and with PMA Companies as its insurance carrier with the purpose of controlling workers’ compensation costs and reaping the investment benefit of your premium dollar as part of your participation into our group captive program.
This choice has proven wise, as Cherrywood has been extremely successful to date. Our members have enjoyed both premium returns and interest income for most of their eligible years dating back to our 1994 inception. In fact, the surplus returned to our members stands at an annual average return of 20%.
These are the class codes that are currently eligible for the program:
015 – Mechanized Logging
301 – Sawmill
305 – Carpentry Shop
306 – Wood Turned Products
311 – Cabinet Works
855 – Lumber Dealer, Wholesaler
For more information about this program, please reach out to your EHD representative.
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