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About MEGAMEGA Property & Casualty Group, Inc. operates as a property casualty self-insurance group for public entities in Massachusetts. Historically, the Massachusetts Education and Government Association Workers’ Compensation Trust was approved for operation on June 30, 1990 by the Commissioner of Insurance and began operation on July 1, 1990 as a workers’ compensation self-insurance group. The trust was originally formed under the self-insurance provisions of the Massachusetts workers’ compensation statute, M.G.L. c. 152. Our mission was to provide a self-insured workers’ compensation program for public entities in the Commonwealth of Massachusetts; to establish, maintain, promote, and enforce sound loss prevention programs; and, to provide a cost-effective option for public entities to obtain insurance products and services. There were 26 charter members in year one with first year written premium of $1.7 million. Fifteen years later, the group has grown to 230 members with standard premium as of July 1, 2005 of $18 million. These results are a reflection of the success the group and its members have had in keeping true to its original mission. On October 4, 1995, pursuant to a decision by the Trustees and membership, the trust was reorganized in Massachusetts as a not-for-profit corporation known as Massachusetts Education and Government Association Workers’ Compensation Group, Inc. (MEGA). The new corporation assumed all of the assets, liabilities, and obligations as successor-in-interest of the trust. The Internal Revenue Service granted tax-exempt status to MEGA. On July 1, 2003, based upon member feedback and continued growth, the workers’ compensation group merged with the newly formed Massachusetts Education and Government Association Property & Casualty Group, Inc. This successor corporation was formed under M.G.L c. 40M, establishing a public entity property casualty group. This change allows MEGA to offer multi-line insurance coverage in the property and liability area to public sector entities. The governing statute also allows for greater flexibility in managing the daily affairs of the group’s pre-existing workers’ compensation program. In response to members demand, on July 1, 2007, MEGA began offering property and liability insurance. Our mission remains consistent with the principles on which the group was originally formed; namely, offering cost-effective insurance to public entities in Massachusetts and to provide the best possible risk management services in support of the insurance as possible.
Company Profile MEGA Property & Casualty Group, Inc. is comprised of 230 public entities in Massachusetts who have opted to pool their insurance risk with similar entities. The group is a not-for-profit entity and employer members are essentially stakeholders in MEGA’s affairs. The group establishes a rating structure to meet its obligations on behalf of members, but ultimately all the assets of the organization belong to the members and are redistributed to members via either front-end rate deviations to premium in comparison to the open market or via post year-end dividend credits issued to members based on overall performance in particular fund years. Our goal is to keep pricing predictable and stable and to reduce insurance costs as much as possible for members. A nine-member board of directors governs MEGA’s operation. They are all representatives of premium paying members. The directors set policy and provide oversight for the membership. Board members are elected to three-year terms by the full membership at the group’s annual meeting, with three positions open for consideration each year. MEGA has an executive director, whose daily responsibilities are to plan and implement the organization’s business plan, to provide daily leadership for the organization, to provide oversight of the activities conducted by the group’s service team, and to represent the members’ interests in the insurance environment and before state regulators. MEGA contracts with a national third party administrator for all administrative services, including marketing, underwriting, claims adjudication, utilization review, loss prevention services, and financial management. Cannon Cochran Management Services, Inc. (“CCMSI”) is the group’s service partner in this area. CCMSI operates approximately 40 offices throughout the United States and employs approximately 600 professionals. CCMSI specializes in group management and provides services for many groups throughout the United States, including a number of public sector pools. CCMSI manages approximately $250 million in public entity insurance premium nationwide. MEGA contracts with an investment advisor for the purposes of managing the group’s sizable assets on behalf of the membership. Finally, the group contracts with the Wellness Corporation to provide an employee assistance program to all employees and dependents of group members. This service is offered at no cost to the members. There are approximately 50,000 public employee’s enrolled presently in the program. General information about the Employee Assistance Program is attached here:Contact Information
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