Austin-based Texas Mutual Insurance Co., a policyholder-owned company, announced it awarded a dividend of $4,019,352 to the Texas Oil & Gas Association (TXOGA) safety group. The dividend was earned based on the group members’ dedication to making safety a priority in their businesses and therefore keeping the group’s loss ratio low.
Since 1999, Texas Mutual has distributed more than $125 million in safety group dividends among qualifying safety groups. Many group members also qualify for individual policyholder dividends from Texas Mutual based largely on their companies’ loss ratios.
In addition to potential dividends, TXOGA safety group members also receive discounts on their workers’ compensation premiums and have access to free workplace safety materials designed for the construction industry.
By the end of 2015, Texas Mutual will have distributed $1.8 billion in safety group and individual policyholder dividends since 1999.
While Texas Mutual has awarded dividends each year since 1999, they are based on performance and therefore not guaranteed. Additionally, dividends must comply with Texas Department of Insurance regulations.
Source: Texas Mutual Insurance Co.
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