Thirty-five years ago in Bermuda, a few enterprising waterfront employers came together to forge a mutual to save on the cost of their workers' compensation. Signal Mutual was formed and the savings continue today with over 250 Members. All key performance indicators are at all-time highs and are projected to grow, with the principal focus on the safety of Members' employees.
Much of the 2018 Membership Year was spent with the Managers and your Board working closely together towards a claim management target operating model built on one management platform for all claims work. This was no small task which culminated in the launch of Sage Adjusting in December 2018. Sage has brought together the experience and expertise of the Association’s four major independent adjusters under one roof. Multiple thanks go out to all the stakeholders and participants in the process. The new entity is expected and projected to deliver considerable cost savings and better outcomes for the Membership. Early results are very encouraging.
Attendance at the Association’s meetings continues to rise with two highly successful Membership meetings during the year. The annual claims conference held in Washington D.C. in May also enjoyed a record number of attendees. The AGM in August 2019 will return to Bermuda for the first time in three years and will mark the 35th such meeting and I would encourage all Members to attend. These meetings provide real value and opportunity to meet the entire Board and management team as well as your colleagues from the industries which you serve.
Your Association continues to go from strength to strength. We have reached record payroll levels, the Membership is fully engaged in embracing safe and healthy working practices and cultures, participation in Association events and educational sessions is increasing, and financial surpluses are at an all-time high. The bar across the board has been raised.
On behalf of all your Managers around the country, I want to thank you all for your continued support and contribution to this quite remarkable organization. We couldn’t do it without you!
Click here Signal’s Annual Report & Financial Statements for 2018.
With best regards,
Richard W. Wood
President & CEO
At Signal, we pride ourselves in having a close personal working relationship and partnership with all our Members. We are committed to getting to know each and every one of you. At the heart of this commitment, are the two Membership meetings held in winter and summer each year. These business meetings are carefully designed and structured to give every Member an opportunity to fully understand the complete workings of their Mutual, to follow the finances, and to get acquainted with the entire Board of Directors, management team, and fellow Members.
Signal is the number one provider of Longshore workers’ compensation in the country for a reason – the strength and quality of the Membership. Signal is not an insurance company – it is a Club, your Club.
We look forward to seeing you at the next Membership meeting.
Richard W. Wood
President & CEO
January 30-February 1, 2020
The Ritz-Carlton Golf Resort
ANNUAL GENERAL MEETING
August 6-8, 2020
Grand Hyatt Kauai Resort & Spa
Koloa, Kauai, HI
For information regarding room reservations, please contact Angela Pineda; email@example.com; 972.865.8049
Signal Mutual Indemnity Association Ltd was established in January 1986 to meet the demands of the stevedoring industry for reasonable and stable workers' compensation insurance rates, and quickly became the premier Longshore mutual in the United States.
The Membership of the Association is drawn from a broad range of employers throughout the country in the stevedoring, shipbuilding/ship repair, marine construction, professional/technical and offshore industries with reported Longshore payrolls over $4.00 billion representing over 250 companies.
The business of the Association, including membership selection, underwriting, safety resources, claims management, actuarial, regulatory requirements and financial risk management is performed by the Association's Managers, Charles Taylor (Hamilton). The day to day responsibility for these operations has been delegated to Charles Taylor's affiliate, Signal Administration, with offices in Dallas Texas, Wilton Connecticut, and Long Beach California.