Thank you to our Digest sponsor, The Builders Group
You probably don’t know this, but The Builders Group provides workers comp insurance to over 25% of the construction industry’s workers. So, who is The Builders Group?
Our backstory is rooted in the Minnesota trades
In 1997, a community of Minnesota construction companies decided to do something about the high cost of workers’ comp insurance in the industry. The plan was simple: join together to create a self-insured workers’ comp fund focusing exclusively on the Minnesota construction industry. A better solution created by the trades, for the trades. Today we insure over 25% of the Minnesota construction labor force: over 35,000 workers!
Safety First, Second, and Third
TBG’s safety services success stories rarely get told because success is the job site injury that doesn’t happen. In 2023 our team provided safety training to over 7,500 Minnesota construction workers, both at the job site and in our state-of-the-art training facility in Eagan. In 2025, we will be growing those training capabilities by expanding the training space in our building to accommodate 170 attendees, and the addition of a custom-equipped van than can bring safety training to our members.
A History of Financial Strength
We have distributed over $42M of surplus to our members, and our board of directors recently approved an additional $8.5M to be paid out in 2025. Like many in the industry, we encountered some financial headwinds in the Great Recession but pulled through it with a renewed conviction and understanding of where we needed to be financially. For example, in 2017 we expanded our coverage footprint by offering a cross-border policy for our members who have employees who work outside of Minnesota.
TBG Education Foundation: Walking the walk for the trades.
The labor market in Minnesota is as tight as it has ever been. TBG Education Foundation’s mission is to help close that gap. In 2024 TBG Education Foundation donated over $63,000 as part of its Tools for Schools program which helps fund school and community trades-based programming. In addition, $39,000 was given to Minnesota trade associations in matching funds for scholarships that enable more young people to get the education/training they need to start a career. A job in the trades can lead to a great career, and TBG Education Foundation is doing its part to make sure young people are exposed that path.
Our 97% member retention rate proves that The Builders Group is a partner, not a commodity. Give your insurance agent a call and find out what being part of The Builders Group looks like for your company.
The Builders Group members are jointly and severally liable for their proportionate share of obligations for the group and will be assessed on an individual and proportionate share bases for any deficit by the group. Dividends are not guaranteed.
