Dividend Reward Plans
2016-2017 Dividend Reward Plans
- All in One Dividend Reward Plans
- Florida Dividend Reward Plan
- Seedling Dividend Reward Plan
- Tangerine Dividend Reward Plan
- Orange Dividend Reward Plan
- Grapefruit Dividend Reward Plan
|Audited Earned Normal Premium||No losses||<5%||<10%||<15%||<20%||<25%||<30%||<35%||<40%|
|$5,000 - $7,499||0.05||0.05||0.04||0||0||0||0||0||0|
|$7,500 - $9,999||0.1||0.05||0.04||0.04||0.03||0.03||0||0||0|
|$10,000 - $14,999||0.15||0.11||0.11||0.08||0.08||0.05||0.05||0.01||0.01|
|$15,000 - $19,999||0.18||0.12||0.12||0.1||0.1||0.08||0.08||0.04||0.03|
|$20,000 - $24,999||0.2||0.13||0.13||0.12||0.12||0.11||0.1||0.05||0.05|
|$25,000 - $29,999||0.2||0.13||0.13||0.12||0.12||0.11||0.1||0.05||0.05|
|$30,000 - $39,999||0.22||0.16||0.16||0.14||0.13||0.12||0.11||0.08||0.05|
|$40,000 - $49,999||0.24||0.18||0.17||0.16||0.15||0.14||0.13||0.08||0.06|
|$50,000 - $74,999||0.25||0.21||0.19||0.17||0.16||0.15||0.13||0.1||0.06|
Eligible Accounts for Tangerine, Orange & Grapefruit Plans
- Policy must remain in effect for the entire policy period without a lapse in coverage in order to be eligible.
- The dividend will be forfeited if a policy is issued a Notice of Cancellation as a result of non-payment of premium as follows: First Notice = Warning, Second Notice = 50% of eligible dividend forfeited, Third Notice = Ineligible for dividend.
- Policyholders with more than 10% total exposure (payroll) in uninsured subcontractor/1099 labor are not eligible.
- Consent-to-rate accounts are not eligible for Dividend Reward Plans.
- Dividend Rewards are based on the final audited premium and are initially calculated 7 months after the policy’s expiration. Subject to the limitations below, the indicated dividend will be paid within 90 days of the initial calculation if the policyholder is still an active member of the Fund.
- If the policyholder is no longer an active member of the Fund, the dividend calculation occurs 18 months after the policy’s expiration and the dividend is paid within 90 days of the calculation.
- All audit disputes must be resolved by the time of the dividend calculation and the audit balance paid in full within 30 days of being billed or the dividend will be forfeited. Any policyholders refusing a payroll audit for any policy period will be ineligible for a dividend.
- Past due premiums and incurred collection costs owed to FUBA Workers’ Comp/FCBI Fund for any policy year will disqualify policyholders for a dividend distribution. Policyholders with past due balances that are sent to collections are not eligible to receive a dividend.
- Dividend Rewards are not guaranteed and are declared at the discretion of the FCBI Board of Trustees.