We are delighted to announce that Builders’ Mutual Casualty Company (BMCC) will begin operations on July 1, 2008.

Builders’ Association Self-Insurers’ Fund of Kansas and Missouri (BASIF) will cease operations at midnight on June 30, 2008.   The 2008 Certificate of Coverages issued by BASIF will be assumed by BMCC and the policies will maintain the calendar year anniversary date. 

Extensive progress has been made towards gaining approval in states other than Kansas and Missouri for workers’ compensation.   We hope to have 8 additional approved filings by year-end.  Over the course of the next few years BMCC will continue to seek approval in additional states and begin work on other lines of property and casualty coverage.  Watch for regular updates on our progress. 

We would like to thank you for your support of this major milestone.  This is just the first of many more property and casualty insurance opportunities for the commercial contracting community.

Coming Soon... Online Monthly Payroll Reporting!
The BASIF website will soon allow for online monthly payroll reporting calculations. The new system will utilize the insured's current experience modification rating and all credit and adjustment factors. The new system will eliminate the need for manual completion of the monthly payroll reporting forms and will eliminate any calculation errors. The system will reflect the current discount factors and experience modification rating allowing the insured to use the most up to date data in calculating their monthly premium. The insured will be able to enter the payroll data by class code and the premium will be automatically calculated for them. They will then be able to print a copy to submit with payment and one for their records. We hope to have this exciting new feature to our website available by the end of the first quarter 2008. We will notify all insured's when this functionality is available for use.

BASIF Converting to Builders' Mutual Casualty Company
Last December BASIF obtained unanimous board approval for a conversion to a mutual insurance company; Builders’ Mutual Casualty Company. The Kansas and Missouri regulators had given us tentative approval pending the formal application process and a two-thirds majority approval of our participants. We are pleased to announce that we received almost unanimous approval from our participants. In fact, we received only one dissenting vote in Kansas and one dissenting vote in Missouri out of a 100% response. Within the very near future we anticipate the Kansas Insurance Department to provide us with the Certificate of Authority to transact and write business as a property and casualty mutual insurance company. Following the Certificate of Authority, we will work with the Missouri Division of Insurance and Missouri Division of Workers’ Compensation for the final approval of the transfer and assumption of BASIF to Builders’ Mutual Casualty Company. Additionally, we hope to begin the process of obtaining approved workers’ compensation rate filings in Kansas, Missouri and a host of additional state filing approvals to be effective July 1st. Each participant will eventually receive a Notice of Assumption Certificate advising of the formal transfer of the policies, assets and liabilities to Builders’ Mutual Casualty Company.

Our target date for completion of the conversion is July 1st and it appears we are right on target. Watch for more updates on this exciting development.

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Click here to download the BMCC Pre-Ballot Announcement Letter