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MABE Pools & the Value of Ownership
The value of MABE Group Insurance and the MABE Workers Compensation Group Self-Insurance Fund can best be embodied in a Swedish proverb: "The best place to find a helping hand is often at the end of your own arm."
Our pools consist of member school systems that came together years ago to help each other during a difficult time in the insurance market. They have continued to thrive due to the member/owner's collaboration to reduce all members' risks and associated costs.
Unlike the commercial insurance industry, which uses profits to measure success, the MABE pools provide services, coverage and risk management tools with the singular goal of serving their membership. The MABE pools are directed by Boards comprised of Trustees appointed by their member school systems. They embody the idea of local control through the local governing members.
Simply put, the MABE pools work because every member has skin in the game, and a voice at the table, in that the MABE pools are member-owned, member-governed and member-driven.
In the MABE pools, members agree to share the cost of risk. For all members, this risk-sharing structure intensifies members' interest in loss control and claim management. The focus is on the long-term financial value and the success of each participating member.
Member ownership leads to quality control within the pools. The most important pool regulation comes from members themselves. Through their dedicated service, school system-appointed Trustees oversee and manage pool-wide outcomes. This is self-regulation that works as a result of true member ownership.
Valued member ownership has led to the success of the MABE Workers Compensation Group Self Insurance Fund for the past 41 years, and of the MABE Group Insurance Pool for the past 39 years.
Please contact me if you would like more information. We greatly appreciate your perspective and engagement!
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