Established in July 1981, the Michigan Bankers Workers Compensation is run by bankers for bankers. The Fund makes available to MBA participating banks, their subsidiaries and qualified MBA associate members Workers’ Compensation coverage as required by law utilizing the pooling of risk with the concept of limited risk retention. MBWCF is the only self-insured program in the country designed exclusively for banks.
All unused claims dollars are returned to eligible participating banks. Since its creation, the Fund has returned over $25.2 million in surplus distribution to its members. You will not get this from a traditional insurer.