Workman's
Compensation Insurance
Name:
Maryland Restaurant & Hospitality Self-Insurance Fund
Status: Owned by RAM members in the fund
Administrator: HRH (Hilb, Rogal and Hobbs)
Contact: Membership Department at RAM
Ph. 410-290-6800 or 800-874-1313
E-mail: twebster@Marylandrestaurants.com
Please review the updated (08/05) Bylaws (.doc or .pdf) and Trust Agreement (.doc or .pdf)
Background:
Established
in the summer of 1993, the fund was designed to offer
an alternative to other plans that offered notoriously
high rates to restaurants due to the "high risk"
nature of the work performed (risk of cuts, burns,
slips, strain etc.). The fund was the first of its
kind (self-insured group) in the State of Maryland.
Participants in the fund are required by law to be
members of RAM. The goal of this program is to provide
quality service, competitive rates and return dividend
premiums to members during exceptional performing
years.
Benefits:
- Highly attractive rates
- Payroll calculation
excludes tips
- No "expense constant"
charges (typically $100 -$160 fee charges by many
plans)
- Large network of qualified
agents
- Self funded plan ensures:
- High standards for acceptance
- Litigation of fraudulent
claims
- Prompt service
- Component partners network
- Focus on loss prevention
and control
- Rapid reporting
- Close monitoring of
employee progress
Guidelines:
- $1,000 in premium minimum
- Good Claims History
- 2-3 years ownership
or management experience
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