Merchants of Virginia Group Self Insurance Association provides Workers’ Compensation protection for businesses located in Virginia engaged in the sale of products or services. Utilizing a unique, cost-effective approach to risk management, this program provides stability, superior loss control and an opportunity for dividends on surplus funds.
Over $40.8MM in approved dividends
Average 25% ROI to members
Merchants of Virginia
Quick Facts
| Founded | 1982 |
| Members | 176 |
| Annual Premium Volume | $5.2 Million |
| Average Mod | 0.91 |
| Reinsurer | Midwest Employers Casualty Corp. |
Eligibility Requirements
- Must sell a product or service
- Must generate $5,000 in premium ($1,500 for gas stations)
- Must have sound financial metrics and long-term stability
In The Words Of A Client
Merchants of Virginia is an elite group dedicated to helping its members reduce workers’ compensation premiums by implementing best practices for workplace safety. Our partnership with Merchants of Virginia has allowed us to lower our costs and earn significant dividends due to good performance.
Bill Barnes
McOffice, LLC
Who We’ve Worked With
Restaurants
Grocery Stores
Gas Stations
Hotels
Business Classifications
The most common primary classes of business in the Association are listed below, but other classifications could be eligible:
| NCCI Code | Classification Name |
|---|---|
| 0005 | Nursery |
| 0401 | Cotton Gin |
| 2114 | Oystermen |
| 3076 | Furniture Manufacturing – Metal |
| 3372 | Electroplating |
| 3629 | Precision Machine or Parts Manufacturing NOC |
| 4251 | Envelope Manufacturing |
| 4299 | Printing |
| 5191 | Office Machine Installation/Repair |
| 7610 | Radio Broadcasting Station/All Employees |
| 8006 | Retail Grocery Store |
| 8017 | Retail Store |
| 8018 | Wholesale Store |
| 8021 | Wholesale Meat Store |
| 8044 | Retail/Wholesale Furniture Store |
| 8046 | Retail/Wholesale Auto Accessory |
| 8116 | Farm Machinery Dealer |
| 8292 | Storage Warehouse |
| 8350 | Gas/Oil Dealer |
| 8380 | Auto Repair or Service/Parts Sales |
| 8381 | Retail Gas Station |
| 8393 | Auto Body Repair |
| 8742 | Outside Salespersons |
| 8748 | Automobile Salespersons |
| 8810 | Clerical Office Employees |
| 8800 | Mailing or Addressing Company |
| 8803 | Accountant, Auditor or Computer System Programmer |
| 9052 | Hotel/Motel |
| 9058 | Hotel/Motel – Restaurant |
| 9082 | Restaurants NOC |
| 9083 | Restaurant: Fast Food |
| 9516 | Radio, TV, Video Installation/Service/Repair |
| 9519 | Appliance Installation/Repair |
