Self Insured Lumber Businesses Association (SILBA)
SILBA has been providing Workers’ Compensation Insurance to NRLA members in Massachusetts since 1992. With Workers’ Compensation Insurance premiums skyrocketing, a small group of industry members got together to find a better way to do business. The feeling then was the same as it is now – why should lumber dealers with good claims experience and loss-control programs be forced to pay the same high premium as everyone else?
Since 1992, the original group of seven founding members has grown to 84 companies. SILBA members have enjoyed yearly dividends averaging 29 percent of paid premium, have earned more than $17 million in dividends, and pay lower initial premiums than conventional, fully-insured programs due to reduced administrative charges.
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