Contractors Battle Big Insurer Over Oregon Privatization Push
The conflict has pitted the Associated General Contractors Oregon-Columbia chapter and other supporters of the fund against Liberty Northwest, a member of Liberty Mutual Group, Boston, one of the biggest writers of construction-related policies. Portland, Ore.-based Liberty Northwest wrote workers compensation insurance for state AGC members until the State Accident Insurance Fund (SAIF) replaced it 15 years ago. SAIF can discount rates partly because of a federal tax exemption. But Oregon voters will decide in November whether to sell SAIFs assets and put it out of business.
Liberty Northwest, which was founded by former SAIF workers in 1983 and now has $110 million in premiums, about 12% of Oregons workers comp market, has chafed against SAIF for years.