The South Carolina Home Builders Self Insurer’s Fund (The Fund) announces that it will refund up to $750,000 of members’ contributions in July 2009 and August 2009. Members who participated in The Fund during all or part of 2008 may be eligible to receive the refund. Each member’s refund will be based upon the ratio of the individual member’s 2008 audited contributions to the total audited contributions of The Fund for 2008.

The operating expense and claims experience of the Fund have recently been favorable and the Board of Trustees has elected to refund a portion of 2008 members’ contributions as a result. The Fund is responding to its members’ needs by recognizing the challenging conditions they face, and providing this refund at a time when it may be most needed.

The Fund believes that this refund of members’ contributions demonstrates the value of participating in an insurance program designed by and for members of the Home Builders Association of South Carolina.

Also, effective immediately, the Fund is waiving the $100 minimum payment due with your monthly self audit. The amount due will be the actual premium calculated using the formula provided on your self audit worksheet. If you do not have any payroll, simply write “No payroll” on the form and return to us. Our minimum annual premium of $1200 will still apply.

The Fund was established in 1995 by a group of charter members, some of whom became the original Board of Trustees, to serve the needs of members of the Home Builders Association of South Carolina by providing a stable cost-effective source of Workers’ Compensation coverage. Over its 14-year history, The Fund has fulfilled its mission and has remained available to members of the Home Builders Association of South Carolina when other insurance companies have stopped providing coverage or left our state altogether.

For more information, please contact he SCHBSIF at 803-771-0566 or toll-free at 800-678-8178.