Texas Mutual Insurance Company announced a group dividend of $773,720 to the Lone Star Auto Dealers Association (LSA) purchasing group. LSA has earned over $1.2 million in group dividends since 2002.
Group dividends are separate from the approximately $100 million in individual dividends that Texas Mutual Insurance Company awarded to nearly 34,000 qualifying policyholders in July. Some LSA members may receive a share of both dividends.
Texas Mutual Insurance Company evaluates each purchasing group’s premium volume and loss ratio to determine which groups qualify for dividends. Last year, the company paid over $6.7 million in group dividends. So far in 2006, it has paid approximately $6.9 million.
The Wicker-Parker Insurance Agency of Abilene established the group, which is open to new car, truck, RV, boat and motorcycle dealerships in Texas. Any licensed Texas insurance agent can place a qualifying client into the group, with approval from the underwriter.
For more information about the Lone Star Auto Dealers Association purchasing group, go to www.lonestarautodealers.com, or contact Brad Wicker or Judy Parker at wicker-parker@nts-online.net.
Source: Texas Mutual Insurance Company
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