History and Governance
The Massachusetts Catholic Self-Insurance Group, Inc. was originally formed by Arthur Powers, then RCAB Director of Risk Management and Insurance, in 1990 as the Archdiocese of Boston Self-Insurance Group Trust (ABSIG). Mr. Powers, along with risk management expert Mr. James A. Swanke, Jr., CPCU, ALCM, ARM, (currently Managing Principal with Towers Perrin) established the Group in an effort to provide Catholic organizations with a cost-saving alternative to rising workers' compensation costs.
The ABSIG became incorporated in 1994. In 2005, with the welcome addition of a second diocese into its membership, the name was changed to the Massachusetts Catholic Self-Insurance Group, Inc. (MCSIG). Growing substantially since its early beginnings, the Group now provides workers' compensation protection for nearly 15,000 employees of more than 500 Catholic member organizations. The MCSIG continues to benefit from the experience and wisdom of Mr. Powers as a consultant to the Board of Directors.
The MCSIG was formed under the workers' compensation statutes of the Commonwealth of Massachusetts and is regulated by the Commonwealth of Massachusetts Division of Insurance. Quarterly and annual financial statements are on file with the Commonwealth’s Division of Insurance. The Group is governed by the Board of Directors and operated by an Administrator appointed by the Board. The administration, claims management and loss control programs are overseen by the RCAB Office of Risk Management. The claims administration is performed under contract with AISC, a subsidiary of AIM Mutual Insurance Co. of Burlington, Massachusetts.