Kentucky AGC Self-Insurers’ Fund

What Kentucky AGC Self-Insurers’ Fund does

Kentucky AGC Self-Insurers' Fund (KYAGCSIF) is a privately-held, Kentucky-licensed self-insured workers' compensation fund founded in 1979 to provide coverage to construction contractors. Headquartered at 435 N Whittington Parkway in Louisville, the Fund restricts eligibility to members of seven participating trade associations: AGC of Kentucky, AGC of Western Kentucky, Builders Exchange of Kentucky, Home Builders Association of Kentucky, Kentucky Association of Highway Contractors, Kentucky Association of Master Contractors, and Kentucky Crushed Stone Association. A February 2025 partnership with the Kentucky Association of Manufacturers extended eligibility into manufacturing. Coverage spans 160+ contractor- and manufacturing-related class codes, and the Fund is rated A/Stable by A.M. Best (upgraded to A/Excellent in March 2025).

The Fund's core product is a recurring workers' compensation insurance policy priced via NCCI class codes, payroll, experience modification factors, and discount tiers, with a $1,000 annual minimum premium, a $100 yearly surcharge, and optional monthly reporting on prior-month payroll. It runs a web-based member portal for payroll reporting, premium payments (electronic check, credit card via Authorize.Net, or mail), loss-run access, and dividend estimates, and an agent portal that calculates quotes in real time. Claims are administered by Sedgwick under access codes ('claim' for Kentucky, 'midwest' for out-of-state), with out-of-state coverage enabled through a partnership with Midwest Employers Casualty Company in 48 states (excluding NY and CA). Distribution is exclusively via licensed insurance agents and brokers (20% new-business and 10% renewal commissions, paid quarterly).

Revenue is generated from member premiums, with surplus returned to qualifying members as dividends under a Dividend Return Factor methodology approved by the Kentucky Department of Insurance. The Fund has paid dividends for 32 consecutive years, distributing $20.86 million for 2026 and over $250 million cumulatively across the prior 31 years. Safety and risk-control services (site visits, presentations, training toolkits, and an active safety blog) are provided in-house by Risk Control Consultants with 50+ years of combined experience. The Fund is member-governed, with no disclosed PE, VC, or parent-company ownership.

Name

Kentucky AGC Self-Insurers’ Fund

Legal name

Kentucky Associated General Contractors Self-Insurers' Fund

Website

https://kyagcsif.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

Kentucky AGC Self-Insurers' Fund is a privately-held, self-insured workers' compensation fund founded in 1979 that provides coverage exclusively to members of seven Kentucky construction trade associations (and now manufacturers via KAM), distributing policies through licensed agents and returning surplus to members as annual dividends.

Ownership category

akta.pro rank

Product category

Workers' Compensation Insurance

NAICS

Other Insurance Funds (525190)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Self-Insured Workers’ Compensation Programs (FSAJAEAD)

Keywords

• Workers compensation insurance
• Construction insurance
• Self-insured fund
• Risk control services
• Claims administration

Headquarters

HQ city

Louisville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Workers' Compensation Insurance Premiums: The Fund generates revenue through annual and monthly premium payments from members. Premiums are calculated based on class codes, payroll amounts, experience modification factors, discount tiers, and Kentucky Assessment Tax. Minimum yearly normal premium is $1,000. Monthly reporting is available for eligible members.
2. Agent Commissions: The Fund pays commissions to agents: 20% for new business and 10% for renewal business. Commissions are paid quarterly in May, August, November, and February.
3. Credit Card Processing Fees: A 4% handling fee applies to all credit card and debit card transactions for premium payments. Electronic check and mail-in transactions have no charge.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Kentucky AGC Self-Insurers' Fund is a self-insured workers' compensation insurance fund providing coverage to construction contractors and related industries across 160+ class codes. Members pay annual or monthly premiums calculated by class code, payroll, and experience modification, and receive dividend distributions from favorable loss experience through a proprietary DRF formula. Coverage is distributed exclusively through licensed agents who are members of seven participating Kentucky trade associations.

Product overview

Kentucky AGC Self-Insurers' Fund operates as a self-insured workers' compensation fund for construction contractors, offering a unified workers' compensation insurance product backed by a member-owned fund structure. The core offering includes workers' compensation coverage with flexible premium payment options and dividend distributions. The product suite consists of an Online Quote Tool for agents, a Member Portal for policy management including payroll reporting and payments, and an Agent Portal for book management. Add-on modules include Out-of-State Coverage through Midwest Employers Casualty Company, Safety Resources and Risk Control Services with complimentary materials and on-site consultations, and a Dividend Distribution Program that has paid members for 32 consecutive years. Members must maintain trade association membership through one of seven participating associations.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Insurance Core workers' compensation coverage for construction contractors, aggregates producers, and manufacturers across 160+ class codes. Includes flexible monthly or annual premium payment options, dividend payouts for qualifying members, and the ability to buy down experience modification factors. Coverage is bound through licensed insurance agents who must be members of participating trade associations.
• Online Quote Tool Web-based tool enabling licensed insurance agents to generate initial premium estimates for prospective members. Calculates manual premium, applies experience modifier (EMOD), and provides discounted rates based on premium size. Includes a $1,000 minimum premium requirement and is available to agents who are members of participating trade associations.
• Member Portal Online self-service portal for members to submit monthly payroll reports, make premium payments via electronic check, credit card, or mail, view loss runs, access dividend estimates, and download policy documents. Supports Zero Report filing for months with no payroll exposure.
• Agent Portal Online platform for licensed insurance agents to manage their book of business, access member information, and submit quotes on behalf of clients. Agents receive 20% commission on new business and 10% on renewals, paid quarterly.
• Safety Resources and Risk Control Services Complimentary safety materials and consulting services for members, including PowerPoint presentations, case studies, checklists, manuals, toolkits, and a jobsite safety mobile app. In-person site visits, safety presentations, and group consultations delivered by Risk Control Consultants with more than 50 years of combined construction safety experience.
• Out-of-State Workers' Compensation Coverage Workers' compensation coverage for Kentucky employees working in other states, provided through Midwest Employers Casualty Company partnership. Available in all 50 states except New York and California and must be specifically bound through an agent.
• Dividend Distribution Program Annual dividend payouts to qualifying members based on surplus allocation calculated by the proprietary Dividend Return Factor (DRF) methodology approved by the Kentucky Department of Insurance. Members must have a loss ratio under 100%, be current on payments, and meet trade association membership requirements. The Fund has paid dividends for 32 consecutive years, with the 2026 payout totaling $20.86 million and cumulative distributions exceeding $250 million.
• Fund Membership Membership application process for prospective members requiring trade association membership, completion of an ACORD application with payroll and class codes, submission of loss runs, an NCCI worksheet, a statement of net worth, and a safety inspection by the Fund's Safety Engineer. Subject to a $1,000 minimum yearly normal premium.

Quantifiable outcome

• 32 consecutive years of dividend payouts to qualifying members
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core, minor and flagship.

• Midwest Employers Casualty CompanycoreTechnology or Integration · 1 January 1994Midwest Employers Casualty Company provides out-of-state workers' compensation coverage for Fund members working outside Kentucky. The partnership enables coverage in all 50 states except New York and California. Members must specifically bind out-of-state coverage through their agent as it does not automatically apply to Kentucky policies.
• SedgwickcoreImplementation/ SI/ Consulting PartnerSedgwick serves as the third-party administrator for claims processing. Handles online claims intake, first report of injury processing, pharmacy benefits (First Fill Card), and preferred provider network access. Claims filed after 10/12/22 are handled through Sedgwick.
• Davies Group (formerly Afirm) and EXLminorImplementation/ SI/ Consulting PartnerExternal auditing firms contracted to complete annual member audits required by the Kentucky Department of Insurance. Audits verify correct premium charging and may result in refunds or additional amounts due.
• National Council on Compensation Insurance (NCCI)coreTechnology or IntegrationNCCI provides actuarial data, experience modification worksheets, expected loss rates, and discount ratios used in premium calculations. NCCI factors are state-specific and approved by Kentucky's Department of Insurance.
• AGC of KentuckyflagshipChannel Partner/ Reseller/ DistributorPrimary trade association partner supporting Fund operations. AGC of Kentucky members are eligible for Fund coverage and the Fund actively markets through AGC channels. The partnership enables KAM members to access exclusive workers' compensation programs.
• AGC of Western KentuckyflagshipChannel Partner/ Reseller/ DistributorTrade association partner whose contractor members are eligible for Fund membership and coverage.
• Builders Exchange of KentuckycoreChannel Partner/ Reseller/ DistributorTrade association representing over 1,000 members including contractors, subcontractors, material suppliers, and manufacturer representatives. Founded in 1927.
• Home Builders Association of KentuckycoreChannel Partner/ Reseller/ DistributorState-level home building association representing Kentucky's homebuilding industry. Includes local chapters across Kentucky.
• Kentucky Association of Highway ContractorscoreChannel Partner/ Reseller/ DistributorAssociation supporting and promoting the highway construction industry in Kentucky. Focuses on legislative advocacy for bridge and roadway investment.
• Kentucky Association of Master ContractorsminorChannel Partner/ Reseller/ DistributorAssociation representing the plumbing, heating, and cooling industry in Kentucky. Committed to fostering communication regarding product knowledge and business strategies.
• Kentucky Crushed Stone AssociationcoreChannel Partner/ Reseller/ DistributorAssociation dedicated to enhancing quality in the aggregates industry. Provides members with comprehensive insurance programs including health, life, disability, and workers' compensation coverage through the Fund.
• Kentucky Association of Manufacturers (KAM)coreChannel Partner/ Reseller/ DistributorKAM members are now eligible for exclusive workers' compensation coverage through the Fund, enabled through partnership with AGC of Kentucky. Announced February 2025.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• AmTrust Financial Services: Large specialty insurer with significant workers' compensation exposure, particularly in small business and construction segments, broadly comparable to KY AGC SIF in target market.
• The Hartford Workers' Compensation: Major national workers' compensation carrier with significant construction industry exposure; competes with KY AGC SIF for larger contractors but at far broader scale.
• Sentry Insurance: Mutual insurer with a dedicated workers' compensation business focused on construction and manufacturing, similar industry mix to KY AGC SIF but operating at significantly greater scale.
• Travelers Workers' Compensation: National carrier offering workers' compensation as part of a broader commercial insurance portfolio; competes indirectly with KY AGC SIF for larger construction accounts.
• California State Compensation Insurance Fund: State-established workers' compensation fund of much larger scale; comparable as a fund-style workers' comp provider, though serving a different geography and member base.

Direct peers

• Zenith Insurance Company: Specialty workers' compensation carrier focused on the construction industry, similar to KY AGC SIF in its narrow industry focus and expertise-driven underwriting.
• Midwest Employers Casualty Company: Workers' compensation carrier that is a partner for KY AGC SIF's out-of-state coverage; comparable as a specialty workers' comp carrier focused on specific industry segments.
• Accident Fund Holdings: Workers' compensation specialist insurer with a strong focus on construction and specialty trades, comparable to KY AGC SIF's industry specialization.
• Builders Mutual Insurance Company: Construction-focused workers' compensation and commercial insurer serving contractors in the Southeast, overlapping with KY AGC SIF in industry vertical and member base.

Regional players

• Indiana AGC Self-Insurers' Fund: Analogous state-level AGC-aligned self-insured workers' compensation fund in Indiana; structurally very similar to KY AGC SIF but serving a different state and trade association ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/KYAGCSIF

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kentucky AGC Self-Insurers’ Fund