Michigan Bankers Workers Compensation Fund (MBWCF) 
Established July 1981, the Fund makes available to MBA participating banks, their subsidiaries, and qualified MBA associate members Workers' Compensation coverage as required by law utilizing the pooling of risk with the concept of limited risk retention. All unused claims dollars are returned to eligible participating banks.
To investigate eligibility and/or to obtain a competitive coverage proposal, please view Qualifications for New Members.
Proposal Procedure
To obtain a proposal for workers' compensation coverage, please complete the estimated payroll questionnaire, using the guideline, noting the effective date you desire coverage to commence. The estimated premium statement will reveal annual as well as pro-rated premium based on the effective date needed. Completion of the branch location form is required.
Next, prepare the letter of authority and mail direct to the Advisory Board. A copy of this correspondence is to be forwarded to the MBA along with the estimated payroll questionnaire. The letter of authority allows the Fund access to your workers compensation loss history that is necessary to determine your experience modification factor.
(Note: New members that obtain a .95 experience modification factor or below will qualify for a premium off-set discount for the first year of coverage. This discount has been instituted to provide a reduction in initial costs as a new member is not eligible to receive a distribution until their second or third year of enrollment.)
For questions or clarification, please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it at 517-485-3600 for assistance or view the website.