Dallas-based Hotchkiss Insurance Programs LLC announced a $273,731 dividend to the Texas Green Industry Workers’ Compensation Safety Group (TGI), bringing total dividends paid to the group to $3,246,032. The group’s total premium volume and loss ratio are factors in determining its dividend.
The TGI Safety Group, formed in February 2004 exclusively for landscapers, nursery growers and other green industry businesses in Texas, provides workers’ compensation coverage that provides an automatic 10.9 percent premium discount to every policyholder.
The announcement marks the eighth dividend paid to the group’s policyholders by Texas Mutual Insurance Co., the program underwriter.
The Texas Department of Insurance (TDI) allows employers in similar industries to reduce their workers’ comp premiums by purchasing their coverage as a group. The TGI Safety Group is a TDI-approved safety group that is open to most growers, landscape contractors, retail nursery, irrigation contractors and other green industry businesses.
Any licensed Texas insurance agent may submit a qualifying client for consideration in the group. Past dividends are not a guarantee of future dividends, and TDI must approve all dividends.
Source: Hotchkiss Insurance Programs LLC