Full text: The Department of Labor and Industry

The State Workmen’s Insurance Fund was created 
by special Act of the General Assembly of the Com- 
monwealth of Pennsylvania coincident with the en- 
actment of the Workmen’s Compensation Law for 
the purpose of providing employers of labor in Penn- 
sylvania a means of obtaining protection under the 
Workmen’s Compensation Act, at net cost. The 
Fund is administered by the State Workmen’s In- 
surance Board, which is an Administrative Board 
in the Department of Labor and Industry. The Secretary of Labor and 
Industry is designated as Chairman of the Board, while the other two 
members comprising the Board are the State Treasurer and the Insur- 
ance Commissioner. The present members of the Board are Peter 
Glick, Chairman; Edward Martin, State Treasurer; and Matthew H. 
Taggart, State Insurance Commissioner. 
The State Workmen’s Insurance Fund received an appropriation 
from the (teneral Assembly with which to start its 
activities, and again two years after its inception, it 
received an additional appropriation for the purpose 
of firmly establishing the Fund. These two appro- 
priations amounted to $500.000, which amount has 
since been returned to the Commonwealth of Penn- 
sylvania. Since 1917, the State Workmen’s Insur- 
ance Fund has not received any State appropri- 
ation and has been self-supporting. The expense of 
conducting the work of the Fund is paid out of pre- 
miums paid into the Fund by employers of labor 
who insure their liability under the Workmen's J. G. Bingaman 
Compensation Aet with the State Fund. Asisiant Mansgst 
The State Fund has an accumulated surplus over and above all 
liabilities of approximately $3,000,000; $2,000,000 of this amount has 
been set aside as a general surplus, while $1,000,000 has been set aside 
as a special eatastrophe reserve. This surplus and reserve is considered 
by all authorities as ample to meet any contingency which may con- 
front the Fund in the way of a catastrophe. In addition to the reserve 
for catastrophe of $1,000,000, the Fund carries reinsurance to the 
amount of $500,000 as a precautionary measure. 
The State Fund, for the past few years, has operated on a net cost 
basis. After all losses have been paid and proper reserves set aside to 
take care of unpaid losses and the expense of the management of the 
Fund has been ascertained for each year, the balance remaining from 
premium income is distributed to policyholders of record during the 
year, in the form of dividends, which, during the past few years, have 
amounted to rather attractive figures. 
The general operations of the State Fund are practically the same 
as those of any other insurance carrier which issues policies in aceord- 
ance with the Pennsylvania Insurance Department’s rules and regula- 
Philip H. Dewey 

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