Texas Mutual Insurance Co. has paid more than $3 million in early qualifier dividends to approximately 4,000 newer policyholders across the state. The payout is the final component of the workers’ compensation insurer’s $240 million dividend distribution in 2016.
The policyholder owners receiving early-qualifier dividends are those who are already exhibiting safe workplaces, as evidenced by their safety record, but haven’t been with Texas Mutual long enough to qualify for a regular dividend. It includes those who have a good loss ratio on their first-year policy with Texas Mutual and have renewed their policy.
This is the 18th consecutive year the board has voted to distribute policyholder dividends, bringing the total to over $2 billion. Over $1 billion of that has been paid since 2012.
Texas Mutual is owned by its policyholders, not stockholders, which means the company shares its success by distributing dividends to policyholder owners who have made a commitment to preventing workplace accidents and helping injured workers get well and back on the job.
Texas Mutual President and CEO Rich Gergasko said that early qualifier dividends emphasize safety being a priority in every Texas business.
Source: Texas Mutual
Topics Texas
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