Q. Is LECMPA a real insurance company?
A. Yes, LECMPA is a non-profit mutual insurance company supervised by the State of Michigan.
Q. Why does it matter that LECMPA is a genuine insurance company supervised by the state of Michigan?
A. Several Reasons:
- We issue you a true insurance contract which cannot be changed except by our mutual agreement. Some “job insurers” are funds or associations, and can change your number of days just by a vote of the Board of Directors.
- The State of Michigan audits our operation to make sure that we are paying claims properly and putting the interest of the members (our owners) first.
- As a true insurance company, our financial performance is public record. Funds or associations do not have to make public filings about their operations and finances.
Q. Why does it matter that LECMPA is non-profit?
A. Our members are our owners. We have no inside investors who want to make money from our operation. This lets us concentrate on paying covered claims and doing what is best for the membership.
Q. Is it important that LECMPA is a non-profit mutual company?
A. Yes! Our corporate structure is the best in the business for protecting member rights. You get a written enforceable contract that can only be changed by mutual agreement of both parties. You have the security knowing that the Michigan Insurance Department audits our performance every year to make sure that LECMPA is being managed for the benefit of the members.
As a member, you are an OWNER of the company. And since we are non-profit, we can concentrate on using our members’ money to pay covered claims, not trying to satisfy shareholders who aren’t unionized transportation workers.
Q. Is LECMPA affiliated with BLE-T or any other union?
A. No. LECMPA is not affiliated with any union. We support all transportation labor. Our responsibility is only to our own members.