Foundation and Purpose

Independent Schools Compensation Corporation (ISCC) began its operations on April 1, 1992, as a workers’ compensation self-insurance group under Massachusetts General Law, Chapter 152. ISCC was established to provide a self-insured workers’ compensation program tailored for private schools, colleges, and cultural institutions in Massachusetts. The organization aimed to offer an alternative to traditional workers’ compensation markets, emphasizing cost-efficient claims service, loss control, and safety programs. ISCC is governed by its dedicated Board of Directors, while claim and safety services, as well as day-to-day operations, are efficiently managed by the group’s program manager, FutureComp.

Membership and Agency Partnerships

ISCC collaborates with the independent agency community in Massachusetts to identify prospective new members. Hub International serves as the exclusive agent for potential members falling under the Class A membership criteria, while ISCC welcomes submissions for underwriting consideration from any agent relating to a Class B prospective member.

ISCC Founding Members

ISCC’s inception was driven by a group of visionary school business managers, including Cornelius N. “Nick” Bakker, Jr. (Thayer Academy), Andrew Leighton (Buckingham Browne & Nichols School), Ted Wade (Milton Academy), Morgan K. Smith, Jr. (Noble and Greenough School), Edward Gotgart (St. Mark’s School), and Peter McCone (Dana Hall School). These individuals played a pivotal role in the formation and success of ISCC.

Financial Impact and Dividends

From 1992 through 2023, ISCC members have collectively generated more than $205 million in premiums. The total distributed dividends to members since the inception of the program is $66.8 million. Total dividends earned by Members since inception are $82 million or 40% of all premiums paid by Members. These dividends are in addition to the up-front premium deviations and discounts that ISCC members enjoy, highlighting the financial benefits of ISCC membership.

Mission Fulfillment

ISCC’s mission is built on a foundation of superior services aimed at keeping members’ employees and working environments safe. The organization fosters a collaborative approach in handling claims, resulting in significant cost savings for its member institutions. Since its inception, ISCC has remained steadfast in fulfilling its mission to provide outstanding support and protection to its membership, contributing to the success of private education and cultural enrichment in Massachusetts.