MEMPHIS, Tenn. (Thursday, 5/25/23) – The Greater Memphis Chamber and Accident Fund today announced a new partnership to offer workers’ compensation insurance to Chamber investors, furthering the Chamber’s goal of providing quality benefits to help grow the region’s businesses.
Along with MemphisComp, the Chamber’s program to help business owners provide wages and medical benefits to teammates who have been injured on the job, the Chamber and Accident Fund (through their Group Programs) will offer Chamber investors a potential dividend payment of up to 5% of the insured annual premiums, convenient billing options, and access to an extensive online library of loss control tools and materials.
MemphisComp is one of several programs the Chamber offers through its wholly owned subsidiary, Chamber Benefits, Inc. To learn more, visit MemphisChamber.com/MemphisComp.
“Injuries can quickly disrupt a business, and especially a small business, which makes programs like MemphisComp crucial to our investors and their teams,” said Ted Townsend, president & CEO of the Greater Memphis Chamber. “This new partnership will give Memphis businesses an affordable, high-quality workers’ compensation insurance option that will make them more resilient to disruptions.”
Highlighting the need for workers’ compensation insurance, more than 2.6 million nonfatal injuries or illnesses were reported in 2021, according to the U.S. Bureau of Labor Statistics.
“I hear from Greater Memphis businesses all the time that are looking for reliable workers’ comp insurance that will help them take care of their employees while also protecting their bottom lines,” said Brant Horne, a broker with Memphis-based McGriff Insurance Services LLC. “To its credit, the Chamber saw the need and partnered with Accident Fund to offer a real, meaningful solution in MemphisComp.”
Tennessee law requires companies with five or more employees to have workers’ compensation insurance, which can be financially burdensome for some businesses – especially small ones.
“Even briefly losing a valued employee because of an injury is hard on any business, but it can be devastating to a small business,” said Larry Robinson, co-chair of the Chamber’s Small Business Council and owner of Memphis-based audio and visual content production company Kudzukian. “Getting an annual dividend check isn’t small to small businesses, which account for 90% of Chamber members.”
Accident Fund is one of the nation’s leading workers’ compensation insurance organizations, managing risk and minimizing loss for its policyholders, creating a safer environment for their workers, and building businesses with its agent partners.
“We are excited to partner with the Greater Memphis Chamber to offer this exciting opportunity to its members,” said Mike Valiante, vice president of Business Development and Operations for Accident Fund. “For more than 100 years, we have partnered with independent agents to help our customers create safe workplaces for their employees. By offering this program, business owners will have the security of knowing their employees will be cared for in the event of workplace injury – while the dividends offer protection for their bottom line.”
About the Greater Memphis Chamber: One of Memphis’ oldest institutions, dating back to 1838, the Greater Memphis Chamber is a privately funded nonprofit that serves as the region’s lead economic development organization and the “Voice of Memphis Business” on local, state, and national issues. The Chamber’s mission is to relentlessly pursue prosperity for all — through economic and workforce development, pro-growth advocacy, and by providing support and resources to its investors, which include many of the region’s largest employers. For more information about the Chamber, visit memphischamber.com and memphismoves.com. Also, follow the Chamber on Twitter, Facebook, LinkedIn and Instagram, and sign up for its weekly newsletter, Memphis Fourword.
About Accident Fund: Accident Fund has provided exceptional workers’ compensation insurance, loss prevention strategies and superior claims service for more than 100 years, with a focus on customer experience and innovation to achieve the best outcomes for customers and their injured workers. Accident Fund is a division of AF Group. All policies are underwritten by a licensed insurer subsidiary. For more information, visit afgroup.com. © AF Group.