VCJPA provides workers' compensation coverage for its members in excess of the members' retained limit up to $500,000 per occurrence. Each member retains a portion of each loss ranging from $2,500 to $50,000. VCJPA is also a member of the Local Agency Workers' Compensation Excess Joint Powers Authority (LAWCX), a risk sharing joint powers authority. When losses exceed the $500,000 per occurrence limit, LAWCX will provide coverage up to Statutory limit.
In order to protect the members from periods of frequent and severe losses, the Aggregate and Mid-Layer Pools have been built into the Pooled Workers' Compensation Program. The graph below outlines the various levels of coverage provided through this program.
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POOLED WORKERS' COMPENSATION PROGRAM
LIMITS OF COVERAGE
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NATIONAL UNION FIRE INSURANCE COMPANY (CHARTIS)
PURCHASED BY LAWCX THROUGH PARTICIPATION IN CSAC-EIA
Statutory Limits EXCESS OF $50 million
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ACE AMERICAN REINSURANCE COMPANY
PURCHASED BY LAWCX THROUGH PARTICIPATION IN CSAC-EIA
$45 MILLION EXCESS OF $5 MILLION
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LAWCX POOLED LAYER
$4,500,000 EXCESS OF $500,000
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VCJPA MID-LAYER POOL
$500,000 EXCESS OF $250,000
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VCJPA PRIMARY POOL
(INCLUDING AGGREGATE POOL)
$250,000 EXCESS OF RETAINED LIMIT
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MEMBER RETAINED LIMIT
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