Texas Mutual Insurance Co. announced that four purchasing groups have earned a combined $839,151 in workers’ compensation dividends. The dividends were based largely on each group’s premium volume and loss ratio.
The dividend amounts for each group were: Texas Apartment Association, $324,894; Social Services Agencies of Texas, $273,876; Lone Star Energy, $174,925; Emergency Service Organization, $65,456.
Group dividends are separate from the $100 million in individual policyholder dividends Texas Mutual announced last week. Many purchasing group members qualified for dividends under both plans.
By committing to workplace safety and helping injured workers return to productive employment, purchasing group members improve their chances of qualifying for future dividends.
In addition to potential dividends, group members get a discount on their workers’ compensation premium. They also have access to free industry-specific safety materials, including online videos, pamphlets, DVDs and a written safety plan.
Any licensed Texas agent can submit qualifying clients for consideration in these groups.
Past dividends are not a guarantee of future dividends. The Texas Department of Insurance must approve all dividends.
Source: Texas Mutual Insurance Co.
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