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About Virginia Commerce

Serving Virginia’s Finest

Virginia Commerce has been owned and operated by its members since 1982 providing Virginia’s retailers and wholesalers with a profitable and unique way to manage their workers’ compensation costs.

By combining premiums with other like-minded companies who focus on preventative safety, monies are invested until such time as they are needed to pay claims and other expenses, and the surplus is returned to the membership in the form of dividends. The better the Group performs the more potential for eligible returned premium.

Joining a Group Self-Insurance Association (GSIA) is a strategic investment in the long-term profitability of your business. By proactively managing your safety, you will not only pay less in premium, you will profit more through a safe and productive work environment for you and your employees. It’s a win-win scenario.

We strive for excellence in how we operate and the services we offer members.

  • View our outstanding over $27 million dividend history
  • Highly regulated by the Bureau of Insurance through routine examinations and annual reporting
  • 24-hour/7 days a week injury triage hotline
  • Annual discount for approved Drug-Free Workplace Credit Program
  • Unparalleled loyalty and satisfaction – over 95%+ retention rate
  • Stability – owned and operated by its members since 1982
  • Excess Insurance with an A rated carrier
  • Top-notch occupational safety and health consultants
  • Multiple protective funds
  • Highly informative publications and seminars

Our History

Virginia Commerce was organized in 1981 and licensed on January 1, 1982. VCGSIA provides workers’ compensation insurance coverage to Virginia businesses engaged in retail, wholesale and other low risk service providers. These businesses are members of the Association and share in profits from operations. A Members’ Supervisory Board elected by the members oversees the administration of the Association. The membership agreement contains a provision whereby each member jointly and severally agrees to assume, pay and discharge any liability of the Association under the Virginia Workers’ Compensation Act. For this reason, each member of the Association must provide an annual financial statement showing a positive net worth.

The by-laws of the Association provide, among other things, that the portion of each members’ premium contribution which shall not be required to pay claims, administrative expenses and fees, or to fund required or appropriated reserves, may be returned to the members of the Association from time to time but only when specifically authorized or approved by the Members’ Supervisory Board and by the Bureau of Insurance.

History of Group Self-Insurance Associations in Virginia

In 1978, the Virginia General Assembly formed a legislative committee to study the problem of high Workers’ Compensation premiums for employers and to determine what other states may be doing to combat this challenge. The result of the study was legislation enacted in 1979 by the Virginia General Assembly to allow the formation of Workers’ Compensation Self-Insurance Funds. In Virginia, these entities are referred to as Group Self-Insurance Associations (GSIAs).

The task of regulating the GSIAs was assigned to the Virginia Bureau of Insurance and not the Industrial Commission (Virginia Workers’ Compensation Commission), which handles all other Workers’ Compensation matters. After considerable work by the Bureau of Insurance, a set of regulations was promulgated under which GSIAs would operate in Virginia. The first Group to be licensed by the Bureau of Insurance began operations on July 1, 1980, and since then, others have been licensed in various categories of business fueled by the self-insured concept.

Supervisory Board

Members of our Supervisory Board each represent member companies, and are elected by the membership to serve a renewable three-year term.

To manage day to day operations, Landin, Inc provides third party and administrative duties for Virginia Commerce. These services include underwriting, claims management, loss control, marketing and excess insurance placement in addition to billing, accounting and financial coordination and dividend management.