WASHINGTON, D.C.(Sept. 11, 2012) — Ullico Inc., the only labor-owned insurance and investment company, announced today that its captive insurance program, Signatory Advantage, was a finalist for the “Innovation in Captive Management” and the “Group/Association Captive of the Year” Service Awards from Captive Review.
“Signatory Advantage demonstrates how unions and management can work together to provide a cost-effective and quality workers' compensation program,” said Edward M. Smith, president and CEO of Ullico Inc. “On behalf of everyone at Ullico, we're honored to have been a finalist for these two distinguished awards.”
The Captive Review Service Awards for the U.S. captive services industry celebrates excellence in the delivery and management of captive insurance. The publication presented the awards to winners in 20 categories at a dinner in Chicago on Sept. 10.
Ullico will launch Signatory Advantage, a group captive for union construction contractors for workers' compensation insurance coverage, in Illinois and New Jersey later this year. It offers union employers competitively priced and stable workers' compensation rates by investing in on-the-job safety and prevention programs, quality medical treatment for injured workers, effective claims management and lower costs because of the underwriting advantages of its union-employer contractor members.
Signatory Advantage was modeled on the award-winning captive insurance company in West Virginia called the West Virginia Workers' Compensation Consortium that was formed in 2008 in the wake of the state's privatization of the worker's compensation system.
For more information about Signatory Advantage, visit www.ullico.com.
For 85 years, Ullico has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members and leaders, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees, businesses and investments. For additional information, visit www.ullico.com.
For more information, contact:
Ben C. Hardaway
Senior Media Relations Manager