SAIF customers in Oregon will receive $160 million in dividends this year.
The SAIF the board of directors declared a $120 million primary dividend to be paid to policyholders based on their premium, and a $40 million safety performance dividend to be paid based on each policyholder’s safety results.
This is the 10th year in a row SAIF has offered dividends, and the 22nd dividend in the past 30 years.
SAIF determines whether a policyholder dividend is appropriate based on capital levels, claim trends and the economic environment. This year, SAIF has seen strong investment returns and favorable trends in injury prevention and claim cost containment.
The safety performance dividend rewards policyholders for claims experience for policies whose annual term ended in 2018, based on a scale from 0 to 10.6% of their standard premium.
This year, 48,508 policyholders eligible for SAIF’s primary dividend. Of those, roughly 93.9% are also eligible to receive all or a portion of the additional safety performance dividend. Checks will be mailed in October to eligible employers.
SAIF is Oregon’s not-for-profit workers’ comp insurance company.
Was this article valuable?
Here are more articles you may enjoy.