IFBOA Workers Compensation Safety Group Program and QBE Aviation Announce Final Good Experience Return of 18% to Close 2012 Program Year

The Independent Fixed Base Operators Association (IFBOA) and QBE Aviation of QBE Holdings Inc. (QBE) are proud to announce that the IFBOA Workers Compensation Safety Group Program’s second year (2012) closed with a final Good Experience Return (GER) of 18 percent. On Dec. 12, QBE declared approximately Two Million Nine Hundred Eighty Thousand Dollars ($2,980,000) for the Program participants for this year’s GER. To date, over Ten Million Dollars ($10,000,000) in GER has been earned by Program participants.

“The Program allows for five years of loss development before making the final calculation of a Program year’s GER. Years 2013-2016 continue to develop on track to produce over 20 percent returns to participants,” stated Steve Allen, QBE’s senior vice president and head of aviation. “Once again, we are pleased by the results of this Program, and the 2012 results fall in line with what we have come to expect,” he said. “The centerpiece of this Program was developed to reward safety performances with substantial year-end savings. When businesses place safety as a top priority, everybody benefits.”

“The returns prove the value proposition of the IFBOA Workers Compensation Safety Group Program,” stated IFBOA Manager of Membership, Jake Legere. “IFBOA strives to attract members who place safety as their highest priority, and the strong returns of this Program allow us to do so.”

This Program continues its strong performance with over 680 current participants. A driving force for these participation numbers is the strategic alliance between IFBOA and the National Air Transportation Association (NATA), allowing NATA members to partake in IFBOA’s Workers Compensation Safety Group Program. “We are pleased with the success of the IFBOA Program and the ability for NATA members to participate and earn a GER through NATA’s strategic alliance. This Program rewards safety performance and provides value to NATA’s members that participate,” stated Timothy R. Obitts, Executive Vice President & General Counsel of NATA.