|
1912 |
Legislature enacts the state’s first
workers disability compensation law and provides for establishment of an
Accident Fund in the state treasury. The original Accident Fund is
organized and operated by Michigan business owners. |
| 1976 |
Michigan Attorney General Kelley rules that
the Accident Fund is a state agency, and its employees are within the
classified state civil service. |
| 1987 |
Ingham County Circuit Court upholds the
Attorney General’s opinion. |
| 1988 |
State Court of Appeals rules that the
Accident Fund is a state agency. |
| 1989 |
Supreme Court declines to review the Court
of Appeals opinion. |
| 1990 |
State assumes management control of the
Fund and classifies Fund employees in the civil service system. Fund
becomes an agency of the Department of Commerce. |
| 1991 |
Governor Engler is inaugurated and calls
for privatization of Accident Fund. |
| 1993 |
Governor signs legislation authorizing the
privatization of the Fund. Blue Cross Blue Shield wins right to buy
Accident Fund. |
| 1994 |
Supreme Court affirms Michigan’s right to
the proceeds of the sale. Sale is consummated before the December 31
deadline. |
| 1995 |
The new Accident Fund Company, a subsidiary
of Blue Cross Blue Shield of Michigan, begins operations. |
| 1996 |
Accident Fund Company earns first A-
(excellent) rating from A.M. Best Company. |
| 1997 |
Company sets ambitious set of goals to be
achieved by Year 2000. |
| 1998 |
Tiered rating structure launched, making
pricing more competitive. |
| 1999 |
Accident Fund pays Blue Cross first
dividend of $100 million; earns full A (excellent) rating from A.M.
Best; installs integrated claims and underwriting system; granted
approval to offer long-term and short-term disability coverage. |
| 2000 |
Launch of multi-state expansion initiated
using new business model created by eMagine. |
| 2002 |
Accident Fund Company becomes Accident Fund
Insurance Company of America. |
| 2003 |
Accident Fund operating in 10 core states. |
| 2005 |
Accident Fund celebrates 10th anniversary
as a private company (Anniversary date: December 28, 1994 – the date the
purchase agreement was signed). |
| 2005 |
Elizabeth R. Haar named president & CEO
(June 1).
Accident Fund purchases Wisconsin-based monoline workers compensation insurer
United Heartland. |
| 2006 |
Minnesota added as core state |
| 2007 |
Nebraska, Virginia and Georgia
added as core states. |
| 2008 |
Accident Fund signs agreement to purchase
California-based monoline workers compensation insurer CompWest.
Mississippi and Arkansas added as core states. |
